The company is suspected of violating China's Anti-Monopoly Law.
The State Administration for Market Regulation (SAMR) of China has launched an investigation into DuPont China Group, a subsidiary of the US firm DuPont, China Daily reports, citing a statement by the regulator.
SAMR suspects DuPont China Group of using monopolistic practices in violation of China's Anti-Monopoly Law.
Other details of the investigation are not given.
The Global Times, citing the Chinese Ministry of Commerce, earlier reported that the Chinese authorities decided to impose additional 34-percent tariffs on all products imported from the US. The agency said they were “ reciprocal tariffs” to the measures announced earlier by Washington. These measures will come into force on April 10, Chinese media noted.
In addition, the Ministry of Commerce of China informed that it will introduce export control measures against seven types of rare earth metals, which are used in the creation of high-tech products, such as computer chips. In particular, these are gadolinium and yttrium.
At the same time, Beijing announced that because of the U.S. duties, it filed a lawsuit under the dispute settlement mechanism of the World Trade Organization (WTO).
DuPont shares collapsed by 16.6% in trading on Friday.
Source: Interfax
