India Drops Investigation into Chinese Tyres

The Xinhua News Agency, China’s official press service, reports the country’s Ministry of Commerce “appreciates” India’s decision to terminate a trade investigation into Chinese manufactured passenger car tyres. According to Xinhua, a statement on the ministry’s website says the decision “decision would not only help boost the steady development of bilateral trade ties, but also benefit the downstream businesses of India.”

India’s Ministry of Finance initiated a safeguard investigation on passenger car tyre imports from China in May following concerns about the volume of these products entering India. According to Indian government statistics, from April to December last year, India imported US$20 million worth of passenger car tyres.