India ends trade probe into China-made car tires

Shanghai, October 12 (Gasgoo.com) China's Ministry of Commerce (MOC) has expressed its deep satisfaction over a recent decision by India to terminate trade investigations into passenger car tires made in China, xinhuanet.com reported today.

Commending on India's decision to put an end to anti-dumping investigations on Chinese-made passenger car tires, the MOC said the move will help boost the steady development of bilateral trade ties besides benefiting the downstream businesses in the Indian auto industry.

The directorate general of safeguards under India's Ministry of Finance had initiated a safeguard investigation on passenger car tire imports from China in May.

A safeguard duty usually takes the form of increased duties and acts as quantitative restrictions on imports, the MOC said.

According to Indian government statistics, India imported $20 million worth of tires from China in the April-December period last year.

China hopes to encourage dialogue and cooperation among industries of the two countries to achieve mutual benefit, the MOC said.