U.S. abandons $147 million price fixing jury award against vitamin C manufacturers in China

In China there is fierce competition between provinces and often overproduction results in low prices, so low no one makes a profit.  So China regulates many industries to prevent unprofitable pricing to obtain business.  In other words, China compels vitamin C makers to set and coordinate vitamin C prices and export volumes.

So Chinese companies were within their law to price fix vitamin C prices even though U.S. officials sued for violation of antitrust laws and price fixing.  An appeals court has now thrown out the $147 million award against the Chinese companies.  [The Wall Street Journal  Sept 20, 2016;[Lexology Sept 27, 2016]

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