China Slaps Largest Duty on GM (GM) Under New Regulation

General Motors (NYSE: GM) plan to dominate the Chinese market might come up a little short, based on new reports Wednesday.

According to Bloomberg, China plans to impose anti-dumping and countervailing duties on some vehicles imported from the U.S. According to China's commerce ministry, the duties will be imposed on vehicles with engine sizes of 2.5-liters or more.

GM may face duties as high as 12.9 percent, while peer Chrysler may pay up to 8.8 percent more. Duties for Ford (NYSE: F) weren't mentioned. German automakers Bayerische Motoren Werke AG (BMW) and Daimler's Mercedes-Benz unit will face duties of 2.0 percent and 2.7 percent, respectively.

Currently, China imposes tariffs of 25 percent on imported cars, including those from Germany, India, and elsewhere.

Amid the news, GM shares are trading higher in pre-market action Wednesday.

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