The Latest: China raises tariffs on optical fiber materials

FILE - In this Wednesday, March 21, 2018 file photo the logo of German car manufacturer BMW is pictured in Munich, Germany. Automaker BMW said Monday July 9, 2018, it will have to raise prices on the U.S.-built SUVs it sells in China due to 40 percent import tax on cars from the United States, in retaliation for higher tariffs on Chinese goods imposed by President Donald Trump.((AP Photo/Matthias Schrader, file)

China steps up action against U.S. goods, imposing anti-dumping duties on raw materials used to make optical fibers

BEIJING — The Latest on trade tensions between China and the U.S. and other foreign trading partners (all times local):

7:00 p.m.

China has stepped up action against some U.S. goods by announcing anti-dumping duties on raw materials used in making optical fibers.

The Commerce Ministry said Tuesday that optical fiber preforms from the United States will face additional duties of 37.9 to 78.2 percent for five years.

It said Corning was among the companies that would be affected by the higher duties.

___

2:00 p.m.

A business group says European companies that export from China are changing the global flow of their goods to avoid higher American tariffs in a sign of the spreading impact of the U.S.-Chinese trade war.

The president of the European Union Chamber of Commerce in China, Mats Harborn, said Tuesday one of its members moved final assembly of goods for the American market from China to a newly created U.S. company.

The Trump administration's 25 percent tariffs on medical equipment, electronics and other goods from China apply to exports made by U.S. or European companies as well as Chinese suppliers.

Harborn said other European companies are "scrambling to readjust supply chains" so that goods bound for the United States don't pass through China.

You may also like these

China says it can't end North Korea nuke program...

Sep 12, 2016

China says the United States has inflamed the conflict on the Korean Peninsula and must carry the...

Asian stocks rise after Wall Street gains

Dec 21, 2016

Asian stocks are higher after U.S. stocks rose to record levels despite attacks in Germany and...

Asian stocks markets retreat after Wall Street...

Dec 23, 2016

Most Asian stock markets have declined in thin trading ahead of the Christmas holiday after Wall...

China says some factories have violated anti-smog...

Jan 3, 2017

China's environmental ministry says an unspecified number of companies have violated measures meant...

'One China principle' not negotiable, China tells...

Jan 16, 2017

Responding to remarks by Donald Trump, China's Foreign Ministry says the country's "one-China...

Sign up now!

The Financial Capital is your independent source for finance information and advice. We provide insights and offer advice from financial experts so you can make the best decisions.

Contact us: sales[at]thefinancialcapital.com