China to Impose Anti-Dumping 'Security Deposits' on a Cosmetics Chemical
Xu Wei
/SOURCE : Yicai
China to Impose Anti-Dumping 'Security Deposits' on a Cosmetics Chemical

(Yicai Global) June 19 -- China is planning to impose anti-dumping measures on ethanolamine, a chemical used in various cosmetics and personal care products, while adding another item to the imports list that will be affected by the brewing trade spat between the Asian nation and primarily the US.

The US, Saudi Arabia, Malaysia, and Thailand have exported the chemical product at an unfairly low market price, the Ministry of Commerce announced on its official website, adding that from June 23, importers must provide 'security deposits' to the Chinese customs on the basis of a margin that ranges from 11.7 percent up to 97.3 percent.

US President Donald Trump said on Monday the country will impose a 10 percent tariff on USD200 billion of Chinese goods July 6 while still contemplating on the exact content of the list. China responded it will 'fight back firmly.' The US has threatened the Asian nation with additional export tariffs due to its alleged lack of market access in China and a USD375-billion trade deficit.

Chinese authorities will also bring in anti-dumping measures on hydroiodic acid from the US and Japan.

Editor: Emmi Laine

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Keywords: MOFCOM , US , Malaysia , THAILAND , Saudi Arabia , Ethanolamine , Trade War