China’s Commerce Ministry on Friday imposed a levy of 43.5% on imports of propionic acid from the United States. Propionic acid is commonly used in food, feed, pesticides and medical fields.
The Ministry attributed the imposition of tariffs to an investigation that found the Chinese domestic propionic acid industry was "materially damaged."
China’s Commerce Ministry warned Thursday that It firmly objects to the US raising tariffs and will take all necessary measures to protect its rights and interests.
Market reaction
Despite the simmering US-China trade war, AUD/USD is unperturbed and scales higher amid a better market mood and broad US Dollar weakness. At the time of writing, AUD/USD adds 0.44% on the day to trade at 0.6445.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.