Chinese tyre makers fret over US trade spat.Byline: AFP (1) (AppleTalk Filing Protocol) The file sharing protocol used in an AppleTalk network. In order for non-Apple networks to access data in an AppleShare server, their protocols must translate into the AFP language. See file sharing protocol. SHANGHAI: Chinese tyre makers expressed concern Tuesday over an escalating trade row between China and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , saying the dispute would hurt exports and intensify cut-throat competition Cut-throat competition, also known as destructive or ruinous competition, refers to situations when competition results in prices that do not chronically or for extended periods of time cover costs of production, particularly fixed costs. . Shares in the firms have plunged after US President Barack Obama imposed punitive duties of 35 percent on Chinese tyres, prompting Beijing to file a complaint with the World Trade Organization. Shanghai-listed Giti Tire said the US tariffs would have a "negative impact" on its business as tyre exports to the United States accounted for about 25 percent of its revenue in 2008. Qingdao Doublestar, a major state-run tyre maker listed in Shenzhen, said: "The issue is set to intensify the competition in the domestic tyre market and may have a negative impact on the company s exports to other nations." But Doublestar said the direct impact of the US tariffs would be minimal as its exports there accounted for less than two percent of its revenue in the first eight months of 2009. Double Coin, which slumped by the daily trading limit daily trading limit In commodities, the range of prices within which trades may take place during a day. The limit is usually determined on the basis of the previous day's settlement price. of 10 percent in Shanghai on Monday, said it was concerned about how the dispute could affect the industry s development. Following the US move on tyres, China s commerce ministry said Sunday it had launched an anti-dumping investigation into imports of some US car parts and chicken products. Muscat Muscat, Maskat, or Masqat (all: mŭs`kăt, mŭs`kət), city (1993 pop. 533,774), capital of Oman, SE Arabia, on the Gulf of Oman. It is flanked by rugged mountains. Press and Publishing House SAOC SAOC Studies in Ancient Oriental Civilization SAOC Sunbeam Alpine Owners Club (UK) SAOC Sector Air Operations Center SAOC South African Orchid Council SAOC Submariners Association Of Canada (Gloucester, ON, Canada) 2009 Provided by Syndigate.info an Albawaba.com company |
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