BEIJING: Faced with several trade hurdles including a duty imposed by the United States on China-made steel pipes, the Chinese ministry of commerce has expressed its deep satisfaction over a recent decision by India to terminate trade investigations into passenger car tires made in the country.
Commending on India’s decision to put an end to anti-dumping investigations on China made passenger car tires, the MOC said the move will help boost the steady development of bilateral trade ties besides benefiting the downstream businesses in the Indian automobile industry.
At another level, Beijing is enraged by a move in the United States to impose a 98.37-per cent anti-dumping duty against the Chinese imports of steel pines besides additional countervailing duties to offset what is being described by US industry as Chinese government subsidies.
"Blindly blaming Chinese imports of dumping or subsidies are lack of factual bases, which China strongly opposes," the MOC announced on its website.
The directorate general of safeguards under India's Ministry of Finance had initiated a safeguard investigation on passenger car tire imports from China in May.
A safeguard duty usually takes the form of increased duties and acts as quantitative restrictions on imports, the MOC noted.
China is worried about New Delhi’s restrictive moves because India imported $20 million worth of tires from China in the April-December period last year. Beijing wants to encourage dialogue and cooperation among industries of the two countries to achieve mutual benefit, the MOC said.
Source : TOI