China imposes 103pc duty on EU, Korean steel products

Business | 22 Jul 2019 6:44 pm

The Ministry of Commerce announced anti-dumping measures on imported stainless steel products from the European Union, Japan, the South Korea and Indonesia, Xinhua reports.

The domestic industry has been subject to substantial damage due to the dumping of these products, the ministry said in a final ruling after anti-dumping investigations into the imports.

From tomorrow, duties will be collected at rates ranging from 18.1 percent to 103.1 percent for a five-year period, the ministry said on its website.

The ministry has accepted applications of price undertakings from some South Korean exporters, meaning that anti-dumping duties will be exempt on products sold in China at prices no lower than respective minimum prices.

After receiving complaints from the domestic industry, the ministry launched the anti-dumping investigations in accordance with Chinese laws and WTO rules, and a preliminary ruling was unveiled in March 2019.

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