A dumping prevention tariff close to 40% is expected to be imposed on hot-rolled (hot-rolled) plates from China.
The Ministry of Trade, Industry and Energy's Trade Commission decided on the 20th to recommend the imposition of a provisional anti-dumping tariff related to the ‘hot-rolled products of carbon steel and other alloy steel from China’ raised by Hyundai Steel during the 457th Trade Commission meeting. The final decision-maker for the tariff imposition is Minister Choi Sang-mok, the acting president and the Minister of the Ministry of Strategy and Finance. The confirmation of the tariff imposition may take approximately one month, and up to a maximum of 50 days after the Trade Commission's recommendation.
The Trade Commission has made a preliminary ruling that there is sufficient evidence that imports of hot-rolled plates may cause substantial harm to the domestic industry due to dumping and has decided to recommend the imposition of provisional anti-dumping tariffs (27.91% to 38.02%) to prevent any potential harm during the investigation period.
The Trade Commission also decided to recommend extending the imposition of anti-dumping tariff measures on ‘stainless steel flat-rolled products from China, Indonesia, and Taiwan’ (flat-rolled / first review) and ‘oriented polypropylene (OPP) film from China, Indonesia, and Thailand’ (OPP film / second review). The Trade Commission believes that if the anti-dumping measures on these two items are terminated now, harm to the domestic industry will recur.
The Trade Commission plans to recommend extending the price commitment measure for flat-rolled products (from 3 years originally to 5 years for the review). A price commitment refers to raising the export prices of dumped goods to a level that can compensate for the harm to the domestic industry in agreement between suppliers and the importing country's government.
The Trade Commission is set to recommend the imposition of anti-dumping tariffs on OPP film ranging from 2.50% to 25.04%.
Regarding the agenda item of ‘lithium battery design infringement’ presented at the meeting, the Trade Commission ruled that the respondent did not infringe the design rights, thus not constituting an unfair trade act.