NEW YORK (AP) -- The group representing the nation's chicken exporters said U.S. producers did not sell their products at unfairly low prices in China and plans to appeal new tariffs imposed by China.
The Chinese government said Sunday that its investigation found that U.S. chicken products are being sold at low prices which undermine the local market. New import duties ranging from 50.3 percent to as much as 105.4 percent will take effect Monday and last for five years.
The USA Poultry & Egg Export Council said in a news release Monday that the yearlong investigation, which culminated in the tariffs, was in retaliation for another trade dispute with the U.S.
"It's truly unfortunate that our industry has ended up in this situation, especially because the issues that created this disaster were not of our making and are beyond our control," council president Jim Sumner said.
China was the largest importer of U.S. chicken in 2009 at $752.5 million but has been embroiled for months over duties imposed on U.S. chicken producers. The Chinese government said the new duties will replace ones imposed in February after preliminary results of the probe showed U.S. chicken was being sold at low prices -- a process called "dumping."
Sumner said he was disappointed China did not accept a settlement and the industry was planning its next steps to appeal the decision.
Shares of chicken producers fell in afternoon trading Monday. Shares of Tyson Foods Inc. were down 36 cents, or 2.3 percent to $15.29 while shares of Sanderson Farms Inc. fell 50 cents to $41.13.
The Chinese government said Sunday that its investigation found that U.S. chicken products are being sold at low prices which undermine the local market. New import duties ranging from 50.3 percent to as much as 105.4 percent will take effect Monday and last for five years.
The USA Poultry & Egg Export Council said in a news release Monday that the yearlong investigation, which culminated in the tariffs, was in retaliation for another trade dispute with the U.S.
"It's truly unfortunate that our industry has ended up in this situation, especially because the issues that created this disaster were not of our making and are beyond our control," council president Jim Sumner said.
China was the largest importer of U.S. chicken in 2009 at $752.5 million but has been embroiled for months over duties imposed on U.S. chicken producers. The Chinese government said the new duties will replace ones imposed in February after preliminary results of the probe showed U.S. chicken was being sold at low prices -- a process called "dumping."
Sumner said he was disappointed China did not accept a settlement and the industry was planning its next steps to appeal the decision.
Shares of chicken producers fell in afternoon trading Monday. Shares of Tyson Foods Inc. were down 36 cents, or 2.3 percent to $15.29 while shares of Sanderson Farms Inc. fell 50 cents to $41.13.
