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China slaps U.S. sorghum imports with temporary deposit in antidumping probe

Reuters  |  BEIJING 

(Reuters) - said on Tuesday it will slap a hefty temporary deposit on imports of U.S. sorghum after finding the U.S. grain has damaged the domestic industry in a preliminary antidumping ruling, stirring trade tensions between the world's top two economies.

and other U.S. companies will be required to put down a 178.6 percent deposit for sorghum shipments to the country in what called a "temporary antidumping measure" as the government continues a probe of imports of the grain.

The deposit, which trade experts said will act as a duty, is effective from Wednesday, the said in a statement. Trade sources said the fee was much higher than they had expected.

The move follows the launch of an anti-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 as the move kindled concerns that would also impose penalties on soybeans and other from the 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.

(Reporting by and Dominique Patton; Editing by Tom Hogue)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 13:21 IST