Taiwanese stainless steel mills disapprove government to levy AD & CVD duty on Chinese HR stainless steel
28 Aug 2019 16:06 reported by Blanca
On June 14th, the Taiwanese government made an initial ruling that the imports of hot-rolled stainless steel from China might bring substantial damage to Taiwanese market, and the Taiwanese Ministry of Finance made a quick response on July 5th that those imported stainless steel from China needed to be levied an anti-dumping duty and countervailing tariff by 26.38% to 32.58%, and 43.86 respectively.
However, the case has been protested by lots of Taiwanese stainless steelmakers.
There was only one company supporting the final decision, which was the largest stainless steelmaker in Taiwan, YUSCO. another stainless steelmaker, Tang Eng, showed no opinion on the decision. But other stainless steelmakers such as Walsin Lihwa and lots of middle and downstream mills had disapproval of this case.
The reason why the government did this decision was mainly to hope Taiwan could become one of the tax exemption countries on steel and aluminum products from the US, but the coverage of its impact might exceed 70% of the steel-related industry, so many stainless steel industries didn’t support it.
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