Taipei--The U.S. Department of Commerce has (DOC) imposed tariffs on steel exporters from Taiwan and seven other countries, accusing them of selling certain carbon and alloy steel plates at unfairly low prices in the U.S. market.
According to Taiwan's Bureau of Foreign Trade (BOFT), the U.S. DOC issued an affirmative and final ruling on the case against the eight countries on Thursday, slapping a financial punishment of anti-dumping duties ranging from 3.62 percent to 6.95 percent on Taiwanese firms.
With the anti-dumping tariffs scheduled to become effective on May 22, China Steel Corp. (??), the largest steel supplier in Taiwan, will face a duty of 6.95 percent and Shang Chen Steel Co. (??) will shoulder a tariff of 3.62 percent. Other Taiwanese firms have been imposed a tariff of 5.29 percent.
China Steel and Shang Chen Steel are the two Taiwanese mandatory respondents in the case.
Exporters from the other seven countries, which are Austria, Belgium, France, Germany, Italy, Japan and South Korea, face anti-dumping tariffs ranging between 5.38 percent and 148.02 percent. French exporters face the heaviest tariffs of up to 148.02 percent.
The BOFT said that the financial burden shouldered by Taiwanese firms has been relatively light compared with the punishment faced by exporters from the other countries.
The bureau said that the lower tariffs imposed on Taiwan came after the two Taiwanese mandatory respondents appeared keen to answer the questions raised by the U.S. authorities related to the anti-dumping case.
That helped reduce concerns in the U.S. market and eventually lead to a lower financial burden.
The U.S. International Trade Commission is scheduled to come up with a final assessment of the damage caused by the exporters of the eight countries on May 15 before the tariffs go into effect, the U.S. DOC said.
In 2016, Taiwan exported 24,665 tons of certain carbon and alloy steel plates worth US$13.42 million to the United States, compared with 32,200 tons valued at US$21.02 million recorded in 2015, the BOFT cited the U.S. data as saying.
Among the eight countries accused in the case, South Korea and Germany were the top two carbon and alloy steel plate exporters with sales at US$284 million and US$220 million, respectively in 2016, the BOFT said.
The USITC issued a preliminary ruling on the case in May 2016, saying the exporters from the eight countries have caused damage to the U.S. market after the case was filed on April 8. The DOC kicked off its investigation on April 28.
Meanwhile, the DOC has imposed a countervailing duty (CVD) of 251 percent on Chinese carbon and alloy steel plate exporters.
Source: Focus Taiwan News Channel