HONG KONG: The European Union on Sunday (Jan 26) ordered its customs officials to register flat-rolled stainless steel imports from China, Taiwan and Indonesia, widening the threat of tariffs on the shipments.
The step is part of an inquiry into whether Chinese, Taiwanese and Indonesian producers of hot-rolled, stainless-steel sheets and coils sold them in the EU below cost, a practice known as dumping.
The move also covers a parallel EU probe of alleged trade-distorting subsidies to the manufacturers in China and Indonesia.Levies against below-cost imports are known as anti-dumping duties, while import taxes in response to subsidies are called countervailing duties. The shipments from China, Taiwan and Indonesia will"be made subject to registration for the purpose of ensuring that, should the investigation result in findings leading to the imposition of anti-dumping and/or countervailing duties, those duties can, if the necessary conditions are fulfilled, be levied retroactively on the registered imports,” the European Commission, the EU’s executive arm in Brussels, said on Friday in the Official Journal. Registration will start on Saturday.
Hot-rolled, stainless-steel sheets and coils are used for other kinds of steel and for tubes. EU imports of the product from around the world were worth almost 900 million euros in 2018, according to European industry group Eurofer, which filed complaints last year that led to the commission’s dumping and subsidy investigations against China, Taiwan and Indonesia.
The commission must decide by April 12 whether to introduce provisional anti-dumping duties on imports of this steel from the three countries and by Oct. 12 whether to impose"definitive” five-year levies. In the subsidy case against China and Indonesia, the commission must decide by July 10 on any provisional duties and by mid-November on any definitive levies. - Bloomberg
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Taiwan further tightens restrictions on China visitors due to virusTAIPEI: Taiwan on Sunday further tightened restrictions on visitors from China to prevent the spread of a new coronavirus, suspending entry for many apart from business travellers and a few other exceptions like people married to Taiwanese.
Read more »
China ‘bushmeat’ trade will bring more viral outbreaks | The Malaysian InsightGlobal Virome Project research indicates 5 new animal-borne pathogens to infect humans each year.
Read more »
China bans wildlife trade nationwide due to virus outbreakVirus has been traced to seafood market in Wuhan that was illegally selling wildlife. FMTNews Wuhan
Read more »
Dr M says coronavirus not at critical stage to stop tourism from China | Malay MailKLANG, Jan 26 — Prime Minister Tun Dr Mahathir Mohamad today said the situation of the coronavirus (2019-nCoV) outbreak in the country is not at a critical point, to stop Chinese tourists from entering the country. In a press conference at the Klang Hokkien Association here, Dr Mahathir said that...
Read more »
Airlines ready to assist in evacuation from China - deputy ministerCORONAVIRUS | However, this is subject to further instructions on any plans to remove Malaysians, says Bakhtiar.
Read more »
China bans wildlife trade nationwide due to coronavirus outbreakBEIJING: China banned wildlife trade nationwide in markets, supermarkets, restaurants, and e-commerce platforms due to the coronavirus outbreak, the country’s market watchdog, agricultural ministry, and forestry bureau said in a joint statement.
Read more »