China's commerce ministry demanded that the US reconsider its move to impose duties on Chinese glossy paper exports, the Financial Times reported. Ministry spokesperson Wang Xinpei said the US Department of Commerce's introduction of tariffs on exports ranging from 10-20% "goes against the consensus reached by leaders of both countries". He added that Beijing officials are monitoring the situation closely and "reserve the right to take any necessary action", which could be read as a threat of retaliatory measures. This latest trade dispute over paper products came after intense lobbying from US paper mills that believe China is "dumping" paper in the US as prices below fair market value. The duties average around 18.16% but products from Gold East Paper in eastern Jiangsu province face a 20.35% levy. There are fears that this action could spill over into other industries such as steel and textiles where industry associations have long claimed that financial support from Beijing provides companies with an unfair trade advantage.
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