Korea recommends 22% anti-dumping duty on Chinese steel plates

Preliminary tariffs aim to shield domestic producers from unfair imports as main investigation continues, in the light of Korea’s decision to impost anti-dumping tariffs on Chinese steel.

The Ministry of Trade, Industry, and Energy’s Trade Commission has recommended a provisional 21.62 per cent anti-dumping tariff on stainless steel plates imported from China, as stated by a report on Biz.Chosun.com. This measure, designed to protect Korea’s domestic steel industry, awaits final approval from Choi Sang-mok, the First Vice Minister of Strategy and Finance.

During its 456th meeting on January 16, the Trade Commission reviewed five agenda items, including the impact of dumping imports on local producers. The recommendation follows a preliminary finding that Chinese imports have caused significant harm to Korea’s stainless steel industry. DK, Inc. had formally requested an investigation, citing damage from the influx of underpriced Chinese products.

The temporary tariff aims to mitigate further harm during the ongoing investigation. If approved, it will be enforced until the final determination is made.

The meeting also addressed other cases of unfair trade practices, including patent infringement of drill sets for implants, design rights violations involving fishing clips, and trademark breaches concerning tents and sleeping bags. Investigations into these cases are set to begin.

Dongkuk Steel Mill, a major domestic producer, manufactures stainless steel plates used in shipbuilding at its Pohang facility. This development is expected to bolster such local industries, which have faced increasing pressure from cheaper Chinese imports.

The final decision on imposing the anti-dumping tariff rests with the Ministry of Strategy and Finance. If implemented, the tariff will signal Korea’s firm stance against unfair trade practices.

 

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