
Audio By Carbonatix
China has launched an anti-dumping probe into imports of a widely used plastic from the US, EU, Taiwan and Japan.
The announcement from the Ministry of Commerce that Imports of polyoxymethylene copolymer -which is used in electronics and cars - is a signal that China will hit back in its trade disputes with the US and Europe.
The announcement comes as China's trade rows with the US and the EU have deepened in recent months.
Less than a week ago, Washington sharply increased tariffs on Chinese goods, including electric vehicles (EVs), solar panels and computer chips.
The new US moves also expanded on sweeping border taxes that were imposed on Chinese goods under the Trump administration.
In response, China's commerce ministry said the new moves would "severely affect the atmosphere for bilateral cooperation", and criticised what it characterised as the politicisation of economic issues.
Ahead of the heavily-trailed White House announcement, a spokesperson for China's foreign ministry said it would "take all necessary measures to safeguard its legitimate rights and interests".
Separately on Monday, China sanctioned three American defence firms over their sales of weapons to Taiwan, state media said.
The announcement that General Atomics Aeronautical Systems, General Dynamics Land Systems, and Boeing Defense, Space & Security are barred from "import and export" business in China came as the self-ruled island inaugurated a new president.
Senior executives of all three companies are banned from entering, working or living in China, the commerce ministry said.
Meanwhile, Europe has launched a series of probes into Chinese imports.
On Friday, the EU said it would launch an investigation into Chinese tinplate steel.
And last month, Brussels said it was probing two Chinese solar panel makers, that it says benefit from government subsidies.
The European Commission (EC), which oversees the EU's trade policies, has also given itself a 4 July deadline to decide whether to impose measures against imports of Chinese-made EVs.
Latest Stories
-
President Mahama to attend One Health Summit in France, hold bilateral talks with Macron
22 minutes -
Mahama endorses ADB at Kwahu Business Summit
2 hours -
Every gram will be tracked – Gold Board unveils traceability push to deal with illegally-mined gold
2 hours -
Analysis: Why the Bank of Ghana sold half its gold reserves
2 hours -
Buy wrong gold, face prosecution – Gold Board CEO cracks down on rogue dealers
2 hours -
Africa pushes integrated health agenda ahead of One Health Summit in Lyon
3 hours -
We own the strategy, its not head office decision – GCB MD positions bank as engine of Ghana’s economy
3 hours -
No more waiting for head office – GCB boss pushes Ghana-first banking
3 hours -
Mahama lauds Julius Debrah for shaping Kwahu Business Forum
3 hours -
Why actors beg in difficulty – Patience Ozokwor on Nollywood financial struggles
4 hours -
Any man who apologises to woman deserves to suffer – Brymo
4 hours -
Nigerian artistes no longer put effort into making music – Omah Lay claims
4 hours -
‘I’m now skeptical about going into politics’ – Davido
4 hours -
Nigeria’s Seplat Energy resumes operations as oil workers halt strike action
4 hours -
Nigeria launches manhunt after abductions by bandits in northwest Zamfara
4 hours