China Plants Hefty Tax on U.S. Sorghum
China announced Tuesday a hefty anti-dumping tax on imports of the grain sorghum from the U.S., hours after Washington banned Chinese telecom equipment-maker ZTE Corp. from buying components from American suppliers.
The announcement underlines the re-escalation of trade tensions between the world’s two largest economies just as they had appeared to calm.
Preliminary findings from a government investigation that started in February showed that American companies have been selling sorghum in China at prices under market value, a practice known as “dumping,” the Ministry of Commerce said in a statement.
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