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China slaps US sorghum imports with temporary deposit in antidumping probe

CNBC CNBC
3 months ago
China slaps US sorghum imports with temporary deposit in antidumping probe

The deposit, which trade experts said will act as a duty, is effective from 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 and the fiery Chinese liquor baijiu.

The government said it will issue a final ruling at a later date, but did not give a timeline.

Prices of soymeal and rapeseed meal used in animal feed jumped on the news as the move kindled concerns that China would also impose penalties on soybeans and other agricultural products from the United States as a trade spat escalates.

The government found the domestic industry was "substantially damaged" by U.S. sorghum imports that are being dumped into the country, it said.

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