The European Union Commission continues to impose anti dumping duty on imports from China in a bid to prevent the unfair play on the domestic prices of anti corrosive steel components.
In February 2018, the European Union had set duties between 17.2 and 27.9 percent for imports of certain corrosion-resistant steels from China to counter what it said were unfairly low prices. According to the Commission, these anti-dumping measures had caused imports of affected products to fall almost to zero. But at the same time, imports of other corrosion-resistant products had climbed to around One million tonnes, (650 million euros or $769.28 million) per year. It launched an investigation into the issue in November 2019.
These extended duties will apply to corrosion-resistant steel products modified by plating or coating by magnesium, an alloy with silicon, additional surface treatments, or with a slightly modified composition of elements.
India has already slapped similar anti dumping duty on Chinese steel products in June earlier this year. This was after similar probe over anti dumping costs were also initiated in India against China, Korea and Vietnam. Anti dumping duties help maintain domestic prices which can fluctuate if the import tends to be priced lower than what is being provided in the open market. Anti-dumping duties are permissible under the World Trade Organisation (WTO) regime. According to global trade norms, a country is allowed to impose tariffs on such dumped products to provide a level-playing field to domestic manufacturers.
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