China Slaps 179 Percent Import Charge On US Sorghum

Local residents worried that the large appearing of toads was a sign of impending earthquake

Local residents worried that the large appearing of toads was a sign of impending earthquake

China is one of the biggest foreign markets for USA sorghum growers.

The Chinese Ministry of Commerce said U.S. sorghum exports to China rose from 317,000 tonnes in 2013 to 4.76 million tonnes in 2017, while price of the exported sorghum fell in 31 per cent - harming Chinese farmers.

Song Tao, who heads the ruling Communist Party's International Department, led an art troupe to Pyongyang to attend an arts festival, according to China's Foreign Ministry. For the last decade, about 20 percent of China's exports have been ferried to the United States, according to Moody's Investors Services, which forecasts a material macroeconomic impact if Trump makes good on his threats with the consequences vibrating beyond China's end exporters and deep into the economy.

Beijing launched the sorghum investigation on February 4 in what some businesspeople saw as a warning shot after President Donald Trump hiked tariffs on Chinese-made washing machines and solar modules.

China had hit back with tariffs on wide variety of agricultural products such as soybeans, corn, beef, orange juice and tobacco which were expected to hit American farmers. In recent months, the USA and China have exchanged escalating threats of tariffs worth billions of dollars. But Chinese officials say these imports are hurting the domestic industry, so that's why they imposed the anti-dumping measure.

"China has always opposed abuses of trade remedy measures".

Kim also said he wanted to "strengthen exchanges and cooperation" with China, according to Xinhua. It said importers must post bonds of 178.6 percent of the value of their goods to cover possible anti-dumping duties while the probe is completed.

"China has consistently asked Chinese companies to comply with the laws and policies of host countries and manage their businesses in line with laws and regulations", said the spokesperson.

This is unedited, unformatted feed from the Press Trust of India wire.

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