Bayer AG NABAYN
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Bayer seeks US duties on Chinese glyphosate imports, which would reduce competition and protect its domestic business.
Impact on stocks 1
Health Care
Bayer AG NABayer on Tuesday asked Washington to impose duties on glyphosate imported from China, saying it was being sold at artificially low prices. The move angered U.S. farmers, who say duties would increase herbicide costs and add to their financial woes. Bayer filed the petition through its subsidiary Monsanto to the U.S. Department of Commerce and the U.S. International Trade Commission, seeking antidumping and countervailing duties. The company is the only U.S. maker of glyphosate and said the domestic business is not sustainable. Farm groups including the National Corn Growers Association and the American Soybean Association criticized the petition, saying it would limit competition and hurt farmers already struggling with high input costs.
Bayer AG NABayer seeks US duties on Chinese glyphosate imports, which would reduce competition and protect its domestic business.