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China puts heavy 75% tax on US imports of vital engineering plastic. The levy, which also hits firms from the EU, Japan and Taiwan came despite a 90-day truce in the trade war between the two countries.
The levy, which also hits firms from the EU, Japan and Taiwan came despite a 90-day truce in the trade war between the two countries.
Imports of the same plastic from the European Union, Taiwan and Japan will face duties between 32.6 and 35.5 per cent. The Ministry of Commerce said on Sunday that an investigation had concluded that “imports of polyformaldehyde copolymer originating in the United States, the European Union, Taiwan, and Japan were being dumped on the Chinese market, causing substantial damage to the domestic industry, and that there was a causal relationship between the dumping and the material injury”. The plastic targeted is a lightweight, durable alternative to metals such as copper and zinc and is widely used in car parts, electronics, consumer goods, construction and pharmaceutical materials.
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