China extends anti-dumping tariff on Indian fibre optic product – Reuters

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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