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Anti-dumping levy on imports of yarn

29
Sep '09
The Argentinean government announced imposition of anti-dumping levy on imports of polyester and other yarns from China, India and Taiwan. This measure has been taken after an investigation in to negative impact of these imports on domestic companies.

In the current context of global financial crisis, the Argentine Government has strengthened restrictions on imported products. In the first eight months of this year, Argentina's trade surplus reached US $12.33 billion, up 44.8 percent year on year, while, imports fell by 39 percent year on year, much lower than export decline of 24 percent.

China is Argentina's second largest trading partner. China maintained a trade deficit with Argentina in most of the years from 1998-2007; total trade deficit reached US $13.8 billion during these 10 years.

The Argentine Government has taken a series of measures to restrict imports since October 2008, though some Argentine companies are of the opinion that, such protectionism will hurt Argentina's economic development in the long run.

Fibre2fashion News Desk - India


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