China imposes preliminary anti-dumping duties of 179 percent on USA sorghum

Bad news

The country slapped a temporary fee on US sorghum on Tuesday after the United States banned American companies from selling parts to Chinese phone maker ZTE Corp on Monday.

China announced a timeline for lifting ownership limits on foreign automakers Tuesday, meeting a longtime demand of the United States and other countries seeking better access for their companies in the world's biggest vehicle market.

Beijing launched the sorghum investigation on February 4 in what some business people saw as a warning shot as President Donald Trump hiked tariffs on Chinese-made washing machines and solar modules.

Still, after Xi struck the conciliatory note in his speech, Trump showed no indication he would back down from imposing the threatened tariffs on $150 billion worth of Chinese goods, and Beijing said it was ready to hit back in kind. Beijing has responded with its own list of US goods for possible retaliation.

In China, sorghum is used in animal feed and also in the production of a popular type of Chinese liquor.

China is the largest buyer of USA sorghum - grown mostly in the rural American South, a region that voted heavily for Trump in the 2016 election.

China's Ministry of Commerce said that starting Wednesday, US growers will be required to put down a 178.6 per cent deposit after an investigation found US subsidies were hurting Chinese growers.

Meanwhile, the average price per tonne dropped 31 percent during the same period, which "caused a fall in prices of Chinese sorghum", Wang said.

The ministry launched the investigation in February in what many observers said was meant as a retaliation for the Trump administration's tariffs on Chinese solar panels and washing machines late a year ago.

"China's full opening of the manufacturing industry is a clear indication of our opposition to trade and investment protectionism, and shows our clear support to widening and deepening the development of economic globalisation", the NDRC said in the announcement.

Salmonella outbreak forces recall of 207 million eggs in US
Further, officials said that eggs emerging from this farm were likely connected to 22 reported cases of salmonella infections . It is the largest recall of eggs in the United States since 2010, the Food Safety News website reported.

China on Tuesday elaborated on when it would scrap foreign ownership limits for automakers, shipbuilders and aircraft producers. It was unclear whether that might mollify the US president and his complaints that Beijing pressures foreign companies to hand over technology.

President Xi Jinping announced the plans last week without providing any details.

The GDP growth rate has stayed within the range of 6.7 percent to 6.9 percent for 11 quarters, with the jobless rate and inflation remaining stable, he said. The US has trade deficit of Dollars 500 billion per annum.

The NDCR added the shipbuilding industry would later this year do away with any restrictions for foreign investors designing, making or repairing vessels.

This will be followed by the removal of ownership obstacles in 2022 for makers of commercial vehicles and passenger cars.

China imposed ownership restrictions in 1994, limiting foreign carmakers to owning no more than a 50% share of any local venture.

Automakers complied because they gained access to China's populous market, which passed the U.S.in 2009 as the world's biggest by number of vehicles sold.

Sales of sedans, SUVs and minivans previous year totalled 24.8 million units, about 55% of which were American, European, Japanese and Korean brands.

"China is the world's biggest electric vehicle market so it has a great deal of attraction to any auto company".

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