Russia to Impose Anti-Dumping Duty on Chinese Bearing Tubes

According to a report on May 13, 2010 from RIA Novosti, Russian Prime Minister Mr. Putin signed on May 10, 2010 a decree, to impose an anti-dumping duty of 19.4% on the bearing tubes originating in China, Taiwan, Hong Kong and Macao as of June 10, 2010, keeping valid for 3 years. The tax rate determined this time is 10% lower than that proposed by the Russian Ministry of Industry and Trade. The report claimed that in recent years, the great importation of Chinese bearing tubes has severely hit related domestic manufacturers in Russia, worsening their financial conditions; therefore, the Russian Ministry of Industry and Trade proposed to raise the import tariff to restrain the dumping of Chinese products and to protect domestic manufacturers.