Antidumping duty imposed on certain Chinese steel products

Antidumping duty imposed on certain Chinese steel products
18/10/2017 , by , in ALLIED

India imposed anti-dumping duty on imports of certain flat steel products from China and European Union (EU) for five years to guard the interest of domestic players from cheap in-bound shipments.

The duty was imposed after the commerce ministry’s directorate general of anti-dumping and allied duties (DGAD) recommended duty on such imports.

In its findings, the DGAD had concluded that ‘colour coated/pre-painted flat products of alloy or non-alloy steel’ has been exported to India from these regions at below the normal value, due to which domestic industry has suffered material injury.

“The anti-dumping duty imposed under this notification shall be effective for a period of five years (unless revoked, superseded or amended earlier) from…11th January and shall be payable in Indian currency,” the department of revenue said in a notification.

The duty will be the difference between the landed value of the steel products and USD 822 per tonne.

India has already slapped anti-dumping duty on certain cold-rolled flat steel products from four nations, including China and South Korea.

While DGAD recommends the duty to be levied, the finance ministry imposes it.

Countries initiate anti-dumping probes to determine if the domestic industry has been hurt by a surge in below-cost imports. As a counter-measure, they impose duties under the multilateral WTO regime.

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

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