EU imposes new ADD on Chinese steel products
The Dollar Business Bureau EU Commission took stern action against China, one of the world’s largest steel makers, for swamping the EU markets with steel, flouting international trade agreements. EU imposed a new anti-dumping duty of 35.9% on China’s hot-rolled flat steel generally used in energy pipelines, shipbuilding, gas containers, tubes, pressure vessels etc. EU Trade Commissioner, Cecelia Malmstroem speaking to the media said, EU is trying to protect its struggling steel producers and stop unfair trading practices. “We are continuing to act, when necessary, against unfair trading conditions in the steel sector, and against foreign dumping,” Malmstroem said in a statement. EU has had a series of standoffs with China over trade but is also looking to resolve them through the OECD. ...
Extension of safeguard duty on steel products to aid domestic industry
Domestic steel industry has been making consistent efforts apprising the government to protect domestic industry from increasing imports The Dollar Business Bureau Safeguard investigation on hot-rolled flat products of non-alloy and other alloy steel in coils of a width of 600 mm or more turns a concern for Indias global steel partners Owing to domestic concerns, the Directorate General of Safeguards(DGS) recommended on Wednesday the decision to continue the safeguard duties earmarked for some steel products for two more years, i.e., till March 31, 2018. This decision to continue safeguards has been achieved due to the consistent efforts of the domestic steel industry bodies. These bodies have been pitching for duties on steel imports as a measure to boost and protect the domestic ...
