July 8, 2014 / 8:50 AM / in 3 years

UPDATE 1-China to lower anti-dumping taxes on U.S. chicken suppliers

2 Min Read

* China cuts anti-dumping taxes on U.S. exporters after probe

* Highest tax rate now at 73.8 pct vs 105.4 pct earlier (Adds details)

BEIJING, July 8 (Reuters) - China will lower anti-dumping duties on U.S. chicken products from Wednesday in the wake of last year's ruling against Beijing by the World Trade Organization in a four-year-old dispute, the commerce ministry said.

China will levy anti-dumping taxes ranging from 46.6 percent to 73.8 percent on imports from U.S. suppliers, such as Tyson Foods Inc and Pilgrim's Pride Corporation, the ministry said on its web site (www.mofcom.gov.cn) on Tuesday.

It would also levy anti-subsidy taxes ranging from 4 percent to 4.2 percent on U.S. chicken producers, it added.

The anti-dumping and anti-subsidy duties were previously set as high as 105.4 percent and 30.3 percent, respectively.

The ministry said a re-investigation found evidence that U.S. chicken exporters dump products in the domestic market and cause substantial harm to local industry.

The decision followed re-examination by the ministry late last year after the World Trade Organization (WTO) ruled against Beijing in the four-year-old trade dispute.

U.S. exports of chicken to China have fallen 90 percent over the past four years, costing sellers an estimated $1 billion after the Asian nation imposed the high anti-dumping duties in 2010. (Reporting by Aileen Wang and Koh Gui Qing; Writing by Niu Shuping; Editing by Kenneth Maxwell and Clarence Fernandez)

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