Anti-dumping duty on some steel products from China

India has extended anti-dumping duty on some steel products from China by five years, in a bid to retain protectionist barriers and stem the tide of cheap foreign products.

The long-term measure, on the import of seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel, stands effective as of May 17 last year when the government had imposed a provisional anti-dumping duty, according to the circular.

Indian steelmakers such as JSW Steel, Tata Steel, and Steel Authority of India have lobbied for more measures to protect them from cheaper imports from China, Japan and South Korea.

US Finalizes Duties On More Chinese Steel Imports

On February 2, the US Department of Commerce announced its final decision to impose antidumping (AD) and countervailing duty (CVD) margins on imports of stainless steel sheet and strip from China.

Commerce confirmed final AD margins ranging from 63.86 percent to 76.64 percent on imports of the product from Chinese producers/exporters. It also determined final CVDs of between 75.60 percent and 190.71 percent on the same imports from China.

The US International Trade Commission (ITC) is scheduled to make its final determination by March 20 this year. If the ITC makes an affirmative final determination that imports of stainless steel sheet and strip from China materially injure, or threaten material injury to, the domestic industry, Commerce will then issue AD and CVD orders.

The United States imported about USD302m of the products from China in 2015. US producers contend that imports of stainless steel sheet and strip from China increased by 133 percent between 2013 and that year.

Commerce's latest decision builds on the large number of trade disputes currently involving the US steel sector and imports from China. Other investigations include imports of cold-rolled and hot-rolled steel flat products, non-oriented electrical steel, and corrosion-resistant steel products. In addition, Commerce has begun, since the second half of last year, to impose very substantial CVD and AD margins on Chinese exporters that are far higher than those on other countries' exporters.

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source : tax-news