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China imposes 36% nylon tariff

Chemical companies, Economic growth
By Paul Hodges on 20-Oct-2009

nylon 6.jpgProtectionism continues to build, as unemployment rises around the world.

ICIS news reports China has imposed tariffs of up to 36% on nylon 6. BASF will suffer a 30.4% tariff on US exports, and Honeywell 36.2%. Last month, of course, the US hit China with a 35% tariff on tyres.

The threat of more duty barriers may well lead to a move to supply domestic markets with locally produced product. It therefore represents an increasing threat to the globalised business model adopted by many chemical companies.

Mid-week update. India plans 20% duty on caustic soda, ICIS news .

Protectionism will be one of the key issues discussed in the blog’s free Budget Outlook webinar next week (details yesterday). If you would like to register, please email simon.robinson@icis.com or myself, with Chemicals and the Economy Group in the subject line.