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Argentina sets duties on Chinese goods & ends probes
23
Jul '10
Argentina puts an end to all investigations and has imposed anti-dumping duties on certain Chinese goods, one week post the meet of Presidents of the two nations, who failed to bring to an end a ban, which was put forth by the Asian nation on Argentine soybean oil imports.

Argentina will be charging a 203 percent duty on several Chinese kitchen appliances and a $17.60 per kilogram duty on certain textile goods, which consist of more than 85 percent polyester. The investigations in to textiles and kitchen appliances was commenced during early 2009 by Argentina, which came to an end this week, as stated in Argentina's official gazette.

On the flip side, in April, China had imposed restriction on Argentine soybean oil imports as a form of opposition for the anti-dumping investigations Argentina carried out, on goods ranging from textiles to elevators.

Argentina's is the world's biggest exporter of soy oil. Till the commencement of the ban, this South American nation provided nearly 75 percent of the edible oil to its largest consumer, the Asian nations.

Although, Argentine President, Cristina Fernandez de Kirchner and Chinese President, Hu Jintao, failed to agree upon a mutual decision, so as to lift the ban, they have atleast agreed upon forming a commission to address and study the matter.

Oil sale to China generates an approximate amount of $600 million per year of export tariffs and tax revenue for the Argentine government.

Fibre2Fashion News Desk - India


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