China to implement countervailing measures against U.S. originated n-propanol

China has decided to implement temporary countervailing measures against the imports of n-propanol originated in the United States, the country's commerce ministry (link in Chinese) announced on Friday.

According to the Ministry of Commerce (MOFCOM)'s preliminary ruling, subsidies for imported U.S. originated n-propanol has damaged the domestic n-propanol industry. Starting from September 9, 2020, when importing those n-propanol, import operators shall apply to China's Customs in accordance with the ad valorem subsidy rate (34.2-37.7 percent) of each company determined in the ruling, and provide the temporary countervailing duty deposit.

Countervailing measures are those imposed on imported goods to offset subsidies made to producers in the exporting country.

(Cover: VCG)