China To Levy Anti-Dumping, Anti-Subsidy Duties On Vehicles From US

Date : 12/14/2011 @ 5:07AM
Source : Dow Jones News
Stock : Honda Motor Company, Ltd. (HMC)
Quote : 27.63  0.22 (0.80%) @ 10:23AM

China To Levy Anti-Dumping, Anti-Subsidy Duties On Vehicles From US

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China will levy anti-dumping and anti-subidy duties on imports from the U.S. of some vehicles with engine capacities above 2.5 liters, the Ministry of Commerce said in a statement Wednesday.

The measures will take effect Dec. 15 and last for two years, the statement showed.

The ministry said several U.S. companies, including General Motors Co. (GM), Chrysler Group LLC and American Honda Motor Co., engage in dumping and subsidizing.

General Motors' subsidy rate is 12.9%, while its dumping margin is 8.9%; Chrysler Group's subsidy rate is 6.2% and its dumping margin is 8.8%, the ministry said.

Domestic manufacturers of sedans and sport-utility vehicles with engine sizes above 2.5 liters are 'materially threatened' by imports from the U.S., it said.

The ministry said in May that some U.S. auto makers engage in dumping and subsidizing, but decided against taking temporary measures.

-Stefanie Qi contributed to this article; Dow Jones Newswires; (8610) 8400-7331; stefanie.qi@dowjones.com

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