China imposes 38% anti-dumping duty rates on Corning's optical fiber

[Fiber optic cable on white background]
Miguel Guasch Fuxa/iStock via Getty Images

China plans to impose new anti-dumping duties on certain single-mode optical fibers originating from the U.S. starting on Thursday, Sept. 4, according to a post on the Chinese Ministry of Commerce website [https://www.mofcom.gov.cn/].

The anti-dumping rate set on Corning (NYSE:GLW [https://seekingalpha.com/symbol/GLW]) is 37.9%. Shares of Corning initially dropped on the news, but have since rebounded to increase by 0.7%. Ciena (NYSE:CIEN [https://seekingalpha.com/symbol/CIEN]) also fell, but is now up 0.8% on the day.

Anti-dumping duties are tariffs imposed by a government on imported goods that they believe are being sold at less than fair market value, which is known as dumping. It is enacted to protect the strength of domestic manufacturers. China has placed such duties on U.S. optical fiber for more than a decade, with some rates as high as 78%.

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