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COMMERCE MINISTRY FOR EXTENDING ANTI-DUMPING DUTY ON CERTAIN STEEL PRODUCTS

Date 17-09-2021 Views: 1080

In separate notifications, the Directorate General of Trade Remedies (DGTR) has recommended the duty after conducting a sunset review investigation on the imports of "cold rolled/cold reduced flat steel products of iron or non-alloy steel or other alloy steel of all width and thickness - not clad, plated or coated from China, Japan, Korea and Ukraine.

The commerce ministry's arm DGTR has recommended the extension of anti-dumping duty on imports of certain steel products from countries like China, Japan and Korea to protect the domestic industry from cheap inbound shipments.

In separate notifications, the Directorate General of Trade Remedies (DGTR) has recommended the duty after conducting a sunset review investigation on the imports of "cold rolled/cold reduced flat steel products of iron or non-alloy steel or other alloy steel of all width and thickness - not clad, plated or coated from China, Japan, Korea and Ukraine".

It has also suggested extension of the duty on imports of hot-rolled flat products of alloy or non-alloy steel from China, Japan, Korea, Russia, Brazil and Indonesia.

It concluded that there is a likelihood of continuation and recurrence of injury to the domestic industry if the existing duty is removed.

On both the products, the directorate has recommended the continuation of anti-dumping duty on imports.

"The authority recommends continuation of anti-dumping duty on the imports," the notification said.

In a separate notification, the DGTR has also recommended imposing the duty on "Sodium Hydrosulpite" from China and Korea. The chemical is used in the textile and soap industry.

While DGTR, which is under the commerce ministry, recommends the duty and the finance ministry takes the final decision to impose the same within three months of the recommendation.

Countries initiate anti-dumping probes to check if their domestic industries have been hurt because of a surge in below-cost imports. As a countermeasure, they impose duties within the multilateral regime of the WTO.

Anti-dumping measures are taken to ensure fair trade and provide a level playing field to the domestic industry. It is not a measure to restrict imports or cause an unjustified increase in the cost of products.

Source: https://www.moneycontrol.com/news/business/economy/commerce-ministry-for-extending-anti-dumping-duty-on-certain-steel-products-7473421.html

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