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China Set to Impose New Tariffs on Nylon
By PATRICIA JIAYI HO OCTOBER 20, 2009, 3:57 A.M. ET
http://online.wsj.com/article/SB125602435738496081.html
BEIJING – China's Ministry of Commerce has made a preliminary ruling to impose tariffs of as much as 36% on certain nylon imports from the U.S., saying the imports have damaged the domestic industry.
Tariffs will also be imposed on such imports from the European Union, Russia and Taiwan, but at lower rates.
The tariffs will affect firms including BASF Corp., the U.S. affiliate of German chemical giant BASF SE, and Honeywell International Inc.'s Honeywell Resins & Chemical LLC, it said.
The move is the latest in a series of Sino-U.S. trade disputes after the Obama administration said in September that it would impose duties of between 25% and 35% on imports of tires from China for the next three years. China followed that decision with probes of potential antidumping measures on U.S. auto parts and chicken.
The preliminary nylon ruling comes a week before senior leaders of China and the U.S. meet at the Joint Commission of Commerce and Trade in Hangzhou, China.
The ruling affects imports of Nylon 6, or polycaprolactam, which is used to manufacture a variety of products, ranging from toothbrushes to gun frames to chiffon. Starting Tuesday, China will require importers to pay deposits on Nylon 6 imports from foreign companies judged to be selling the material in China for less than a fair price.
Awaiting a final decision on the measure, the ministry will levy a preliminary 30.4% tariff on products of BASF Corp., and 36.2% on those of Honeywell Resins & Chemical and other companies in the U.S.
Both Honeywell and BASF said they regret the Ministry of Commerce's move.
Honeywell said it "doesn't attempt to gain sales through the unfair pricing of its products in the People's Republic of China or in any other market." It said it will cooperate fully with the ministry's investigation and that it expects "a fair and justified judgment from MOFCOM in its final ruling."
BASF said, "We have been working closely for several months with the Chinese authorities in their investigation, and will continue to do so since the findings are still provisional." It said it will continue to work to reduce the final duties.
Duties on products of companies named in the decision from the EU, Russia and Taiwan will be between 9.7% and 4%. The levy will be 23.9% for all companies in those markets that weren't named in the decision, the ministry said.
Low-priced nylon imports have harmed six industries in China, the ministry said in its statement, as volumes of imports have increased while prices have gone down.
China formally started investigating the Nylon 6 imports in late April.
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发表于 2009-10-20 19:57
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发表于 2009-10-25 16:05
