Published on Nov 8, 2012 by NTDTV
In a tit-for-tat trade row volley with its trading partners, China's Ministry of Commerce announced today that it is going to place tariffs on steel pipes imported from Japanese and European companies.
After an investigation, the Ministry reported the foreign companies were selling the pipes at below market price, hurting Chinese businesses.
The decision follows a preliminary ruling in May that will slap a roughly 9-14% tariff on the pipes starting on Friday.
This is the latest move in a trade war between China and its biggest trading partners. The US, Japan and the EU have all placed import restrictions on Chinese imports they accuse of dumping on the market.
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After an investigation, the Ministry reported the foreign companies were selling the pipes at below market price, hurting Chinese businesses.
The decision follows a preliminary ruling in May that will slap a roughly 9-14% tariff on the pipes starting on Friday.
This is the latest move in a trade war between China and its biggest trading partners. The US, Japan and the EU have all placed import restrictions on Chinese imports they accuse of dumping on the market.
For more news and videos visit ☛ http://ntd.tv
Follow us on Twitter ☛ http://twitter.com/NTDTelevision
Add us on Facebook ☛ http://on.fb.me/s5KV2C
Nice posting.We are also in Steel Industries as Star Auto Solution From India.at http://www.starautosolutions.com/
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