Union Government imposed anti-dumping duty on stainless steel

The Union Government has imposed anti-dumping duty on import of cold-rolled flat products of stain-less-steel for Five years from Seven countries. The government’s decision comes on the re-commendation of the Directorate General of Anti-dumping & Allied Duties in the wake of rising incidence of dumping. It was hampering the performance of domestic industry & with steel prices on a decline.These countries are China, South Korea, United States, South Africa, Thailand, Taiwan & the European Union. The highest duty has been imposed on steel imports from China at 57.39 %, followed by EU at 52.56%. Imports from Thailand will have the least duty imposed at 4.58 %. Earlier in September 2015 Government had imposed 20% provisional safeguard duty on a specific hot rolled imported steel product. Anti dumping duty: It is counter import measure used by a country under the multilateral World Trade Organisation regime to protect its domestic producers and market from below cost-cheap imports. It varies from product to product and from country to country.

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Union Government imposed anti-dumping duty on stainless steel