China Extends Anti-Dumping Duties on Hydroiodic Acid from US and Japan

Beijing: China's Ministry of Commerce announced on Tuesday its decision to continue to impose anti-dumping duties on hydroiodic acid originating from the United States and Japan, for five years starting Wednesday. According to Kuwait News Agency, the initial imposition of these duties began on October 16, 2018, and was set to last for a period of five years. The decision was a response to what China described as substantial damage to its domestic hydroiodic acid industry caused by these imports. The extension means that the duties will now remain in effect until at least 2028. The tax rate will be maintained at 123.4 percent for US companies and 41.1 percent for Japanese companies, as reported by Xinhua news agency. This announcement comes amidst growing trade tensions between China and the United States. The Joe Biden administration recently imposed a 100 percent tariff on Chinese electric vehicles starting last September, further straining relations.