By Alex Kapadia
China has expressed its appreciation that India will terminate its tariffs on imported Chinese tyres.
The announcement from the Indian Ministry of Finance came in the wake of the controversial US decision to impose steep duties on tyres imported from China.
A spokesman from China’s Ministry of Commerce said India’s decision not only enhances bilateral trade between the two countries, but also facilitates the development of India’s downstream enterprises.
He also said China hopes to strengthen communication and cooperation on bilateral trade issues with the Indian government to achieve a win-win situation.
India started a special protectionist investigation, or tariffs on China-imported tires on May 18 this year.
President Barack Obama caused an international stir last month when he agreed to impose a 35% increase in tariffs on tyres imported from China.
The US administration has been accused of “protectionism” after it accepted union claims that the flood of imports was damaging the domestic industry.