China to slap anti-dumping duties on US propanol imports amid rising trade tensions
Normal propanol, also known as n-propanol and 1-Propanol, is used as a solvent in the pharmaceutical industry, as well as for resins and cellulose esters.
The US’ dumping caused substantial damage to the domestic n-propanol industry, the ministry said on Friday. The decision, with duties ranging between 257.4 and 267.4 percent, will come into force on July 18.Also on rt.com China’s economy roars back to growth after record coronavirus contraction
The move will affect Dow Chemical Company and OXEA Corporation among other US firms. Neither of the companies has commented on the decision yet.
China’s Commerce Ministry launched an anti-dumping probe on imports of propanol from the US in July 2019, when trade tensions between the world’s two biggest economies were raging. It planned to finish the investigation in one year, adding that the probe may take longer for some cases.Also on rt.com China slaps sanctions on US arms maker Lockheed Martin over missile sales to Taiwan
Washington and Beijing signed the first phase of their trade deal in the beginning of the year, canceling looming tariff hikes and lowering some earlier tariffs. However, there are concerns that the trade truce may not last as tensions between the two nations are rising again, this time over the coronavirus pandemic. At the same time, the US has stepped up pressure against Chinese tech companies, such as Huawei, urging its allies to ban the company from their markets.
For more stories on economy & finance visit RT's business section