China has been “consistently” building a set of policy tools it can use to retaliate against the U.S. and other countries in response to trade controls or other restrictions, and companies could soon start seeing China deploy those tools more frequently, said David Hathaway, a consultant on China issues for The Asia Group.
South Korea should be invited to join the Group of 7 nations because of its willingness to work with the U.S. and other allies in imposing sanctions and export controls against Russia, the country’s former foreign affairs minister said this week.
Chinese and South Korean officials met in China last week for an export control “consultation” to share information about their respective export restrictions, according to an unofficial translation of a Chinese Ministry of Commerce notice. The officials also held “in-depth exchanges” with industry officials who also attended the meeting, China said. “The two sides agreed to further strengthen communication and cooperation, promote the development of bilateral compliant trade, and jointly maintain the stability and smoothness of the global industrial chain and supply chain.”
China renewed its antidumping duties on imports of nitrile butadiene rubber from South Korea and Japan, the country’s commerce ministry announced Nov. 8, according to an unofficial translation. The duties, originally imposed in 2018, range from 12% to 37.3% for South Korean companies and 16% to 56.4% for Japanese companies. The rubber has oil, water and heat-resistant properties and has uses in the industrial and mechanical industries. The duties will remain in place for five years from Nov. 9.
Australian Trade Minister Dan Farrell and Chinese Commerce Minister Wang Wentao met to discuss trade issues this week ahead of the China International Import Expo trade show in Shanghai, the two countries said.
Indonesia has agreed to “restore an accelerated track” for the U.S. to export apples to the country, the Office of the U.S. Trade Representative said in a Nov. 1 emailed press release. Indonesia agreed to allow the exports after “extensive engagement” by both USTR and USDA, the agency said, adding that the Indonesian measure was an “unjustified” trade barrier. USTR said it will “monitor implementation of this fast-track channel closely and make sure that U.S. producers, growers, and exporters can continue to export U.S. products.”
New U.S. outbound investment restrictions on China (see 2410280043) will hurt both Chinese and American firms and “interfere with the normal economic and trade cooperation” between the two countries, a Chinese commerce ministry spokesperson told reporters this week, according to an unofficial translation. China “firmly opposes” the new rules and has “lodged solemn representations” with the Biden administration, the spokesperson said, adding that the “vast majority of industries related to these areas do not involve national security, but they will all be restricted by the U.S. ban.” China “reserve[s] the right to take measures” in response.
China will extend antidumping measures for another five years on ethanolamine imported from the U.S., Saudi Arabia, Malaysia and Thailand, the country’s commerce ministry said Oct. 29, according to an unofficial translation. The duties, extended as of Oct. 30, range from 10.1% to 97.1%, including rates of 76.0% to 97.1% for U.S. companies. China said ethanolamine has a range of uses, including in pharmaceuticals and as gas treatment agents.
China’s Ministry of Commerce criticized a decision by the U.S. earlier this month to sanction two Chinese firms for helping to make drones for Russia (see 2410170011), saying the designations have “no basis in international law and are not authorized by the UN Security Council.” The ministry also said China doesn’t allow its businesses to sell drone parts for use by Russia’s military and has recently strengthened export inspections to stop those shipments.
China this week renewed antidumping duties on imports of hydroiodic acid from the U.S. and Japan for five years after finding that lifting the tariffs could “damage” China's domestic industry, according to an unofficial translation of a Ministry of Commerce notice. The renewed AD measures, effective Oct. 16, include a 41.1% rate for Japanese companies and a 123.4% rate for American companies. China said the acid has various manufacturing uses, including for integrated circuits.