The statement said that a Ministry investigation that began in August concluded that US, European and Singaporean vendors of synthetic rubber had set a price 26-66.5 per cent below the cost value, which amounted to dumping, Efe news reported.
"In response to the application of domestic halogenated butyl rubber industry, the Ministry of Commerce issued an announcement on August 30, deciding to initiate an anti-dumping investigation," the Chinese Ministry said in the statement.
In order to prevent losses to the domestic sector, the Ministry said it decided to impose a tariff on the import of the product, which would vary according to the level of dumping carried out by each company.
The measure, which will come into effect on Friday, is the first of its kind on the product, although it could be followed by other announcements.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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