China to lower anti-dumping taxes on US chicken suppliers
July 9, 2014
by Bryan Salvage
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WASHINGTON – Reuters reports that China will lower anti-dumping duties on US chicken products in the wake of the 2013 ruling against Beijing by the World Trade Organization in a four-year-old dispute, the commerce ministry reported.
China will levy anti-dumping taxes ranging from 46.6 percent to 73.8 percent on imports from US suppliers, such as Tyson Foods Inc. and Pilgrim's Pride Corporation. the ministry said on its website. It added it would also levy anti-subsidy taxes ranging from 4 percent to 4.2 percent on US chicken producers.
The anti-dumping and anti-subsidy duties were previously set as high as 105.4 percent and 30.3 percent, respectively.
Over the past four years, US exports of chicken to China have dropped 90 percent, costing sellers an estimated $1 billion after China slapped on high anti-dumping duties in 2010.