China raises tariffs on US animal feed

China started levying hefty anti-dumping and anti-subsidy tariffs on Thursday on US corn products used as animal feed in the latest development in a slew of trade disputes between the world’s two largest economies, according to Caixin.  Punitive tariffs on US-made dried distillers grains with soluables (DDGS) have been raised to 42.2% to 53.7%, up from the original de facto 33.8% tax that the ministry imposed in September, the Ministry of Commerce said Wednesday. The government held proceeds from the taxes as a “deposit” until the final ruling. The ministry announced its final ruling in an investigation that had been prompted by complaints from local suppliers in November 2015. Chinese companies had said corn subsidies in the US were indirectly benefiting US suppliers of DDGS, allowing them to flood the Chinese market.