(Yicai Global) June 22 -- China has slapped an anti-dumping duty on styrene, a chemical used for making polystyrene plastics and resins, originating from the US, South Korea, and Taiwan.
From tomorrow, an additional tax from 3.8 percent to 55.7 percent will be levied on styrene imports from these three nations, China's commerce ministry said on its website. The duty will be valid for five years.
This week, China has said it will impose anti-dumping duties on chemicals such as ethanolamine and hydroiodic acid and is considering such measures on seamless alloy steel tubes too. All of these imports have one origin country which unites them: the US.
US President Donald Trump has so far threatened the Asian nation with tariffs which would target USD450 billion worth of Chinese goods. China said yesterday it will respond to these threats with "qualitative and quantitative" measures.
Exports of styrene products from these countries to China's mainland has increased substantially in recent years, while harming local producers, MOFCOM said.
Editor: Emmi Laine