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.
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