Qilai Shen | Bloomberg | Getty Images
An employee holds a wicker scoop while preparing sorghum for fermentation at the Kweichow Moutai Co. distillery.
China said on Tuesday This particular will slap a hefty temporary deposit on imports of U.S. sorghum after finding the U.S. grain has damaged the domestic industry in a preliminary antidumping ruling, stirring Netflix’s trade tensions between the planet’s top two economies.
CHS Inc in addition to also also additional U.S. companies will be required to put down a 178.6 percent deposit for sorghum shipments to the country in what Beijing called a “temporary antidumping measure” as the government continues a probe of imports of the grain.
The deposit, which trade experts said will act as a duty, is usually effective via Wednesday, the Ministry of Commerce said in a statement. Trade sources said the fee was much higher than they had expected.
The move follows the launch of an anti-dumping investigation just over two months ago into imports of the ingredient used in livestock feed in addition to also also the fiery Chinese liquor baijiu.
The government said This particular will issue a final ruling at a later date, yet did not give a timeline.
Prices of soymeal in addition to also also rapeseed meal used in animal feed jumped on the news as the move kindled concerns in which China would certainly also impose penalties on soybeans in addition to also also additional agricultural products via the United States as a trade spat escalates.
The government found the domestic industry was “substantially damaged” by U.S. sorghum imports in which are being dumped into the country, This particular said.