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Taiwan hit by US anti-dumping tariffs

By Kuan-lin Liu , 2016-11-09 08:59:22

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The U.S. Department of Commerce said it had imposed a preliminary anti-dumping tariff of 28 percent on Taiwan's Chinese Steel Corp. in an announcement released Monday.

Other Taiwanese producers of carbon and alloy steel cut-to-length (CTL) plates — including the Shang Chen Steel Co. — were slapped with anti-dumping tariffs of 3.51 percent.

The larger tariff placed on Chinese Steel Corp. was because the company had allegedly failed to adhere to anti-dumping regulations, according to the report.

Firms from countries including Austria, Belgium, China, France, Germany, Italy, Japan, and the Republic of Korea were also hit with tariffs.

Lower Margin in Taiwan

The U.S. Department of Commerce said it had found a comparatively lower margin of dumping in Taiwan than in the other eight nations, and thus had imposed lower tariffs.

The U.S. Department of Commerce found firms in Japan to be dumping at margins ranging from 14.96 percent to 48.64 percent.

Marcegaglia SpA of Italy was found to hold a preliminary established dumping margin of 130.63 percent.

Meanwhile, Jiangyin Xingcheng Special Steel Works Co., Ltd. of China had a preliminary margin of 68.27 percent.

The preliminary findings were the results of an investigation that took place after three American steel companies — Nucor Corporation, Arcelor Mittal SA and SSAB AB — filed separate complaints with the United States International Trade Commission regarding dumping by foreign steel exporters to the United States.

According to data from the Department of Treasury, Taiwan is the 11th largest exporter of steel to the U.S., accounting for 2.01 percent of the U.S.' steel imports.

As a result of the preliminary tariff decisions, foreign exporters of steel to the U.S. will have to pay cash deposits based on the preliminary rates.

The Department of Commerce stated back in May, when U.S. steel companies' complaints were publicized, that the final determinations of tariffs would be announced at the end of November.

News from The China Post.

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