China to impose anti-dumping measures on synthetic rubber imported from Singapore, US, EU

[BEIJING] China will impose temporary anti-dumping measures on halogenated butyl rubber imported from the United States, European Union and Singapore, the commerce ministry said on Thursday.

The anti-dumping measures will be effective from April 20, the ministry said.

Exxon Mobil Corp is among companies in the list affected by the rubber duties.

The commerce ministry also said Thursday that China is well prepared to handle any negative effects from its trade dispute with the US, adding that China's tariff hikes on US imports will not have a big impact overall on its domestic industries.

The United States would be making a miscalculation if it is determined to contain China's rise, ministry spokesman Gao Feng said at a regular media briefing in Beijing. Responding to a question on whether China has underestimated President Donald Trump's resolve to pursue trade measures against China, Mr Gao said Beijing hopes Washington will not underestimate China's resolve to fight back.

Most analysts believe the two sides will eventually reach a compromise and avoid a full-blown trade war. But so far, China and the US have held no formal trade talks, Mr Gao said.

In earlier actions this week, the US banned American companies from selling parts to Chinese telecom equipment maker ZTE for seven years, while China on Tuesday announced hefty anti-dumping tariffs on imports of US sorghum.

China will take any necessary measures at any time in response to the US move against ZTE, Mr Gao said. But he added that China's move on US sorghum is independent from the current Sino-US trade frictions.

On April 2, China slapped additional import taxes on 128 US products including frozen pork and wine, in resonse to US duties on imports of aluminium and steel. Two days later, China warned it was considering increasing duties on an additional 106 US imports, hitting back at the US's plan to levy duties on US$50 billion of Chinese goods following a months-long intellectual property probe.

REUTERS