China extends anti-dumping tariff on Indian fibre optic product – Reuters
|China’s Commerce Ministry said in a statement on Thursday, it is extending an anti-dumping tariff on a fiber optic product made in India, per Reuters.
Additional details
“The punitive tariff on single-mode optical fiber takes effect from Aug. 14 and lasts for five years.”
“Tariffs ranging between 7.4% and 30.6% depending on the specific Indian manufacturers.”
This comes amid souring diplomatic ties between the countries after India announced a ban on a number of Chinese tech applications.
USD/INR implications
The Indian rupee could see a bit of downside pressure on the above news, with USD/INR likely to regain the 75 handle.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.