Taipei--The U.S. Department of Commerce (DOC) has imposed anti-dumping tariffs on steel product vendors from Taiwan, Japan and Turkey after a preliminary ruling found that those steel exporters sold their products at unfairly low prices in the U.S. market and caused damage.
In a statement posted on its website on Wednesday, the International Trade Administration (ITA) of the DOC said that after an investigation into the alleged unfair trading practices, the DOC has decided to slap anti-dumping tariffs of 3.48-29.47 percent on Taiwan's steel concrete reinforcing bar exporters to the U.S. market.
Among the affected Taiwanese firms, Power Steel Co., Ltd. (????), Lo-Toun Steel and Iron Works Co., Ltd. (????) face preliminary dumping margins of 3.48 percent and 29.47 percent, respectively, the ITA said.
The DOC has also assigned a preliminary margin of 5.49 percent to all other producers and exporters of steel concrete reinforcing bars from Taiwan, the ITA added.
As for Japan, the DOC imposed a 209.46 percent anti-dumping tariff on Jonan Steel Corporation and Kyoei Steel Ltd, a much higher financial punishment than the tariffs imposed on Taiwan's exporters.
In addition, the DOC has also slapped anti-dumping tariffs of 5.29-7.07 percent on Turkish steel concrete reinforcing bar producers and exporters, such as Habas Sinai ve Tibbi Gazlar Istihsal Endustrisi A.S. and Icdas Celik Enerji Tersane ve Ulasim Sanayi A.S.
According to the ITA, the steel products targeted include rebar that has been further processed in the subject country or a third country, including but not limited to cutting, grinding, galvanizing, painting, coating, or any other processing which will not otherwise remove the products from the scope of the investigations if performed in the country where the rebar is manufactured.
The ITA said the DOC is scheduled to announce its final determination on or about May 16 for Japan and Turkey, and July 6 for Taiwan.
Taiwan's Bureau of Foreign Trade (BOFT) said that the affected Taiwanese steel producers should respond to the DOC's probe in an active manner before the final ruling is issued, in a bid to secure U.S agreement on lowering the anti-dumping tariff.
The BOFT cited data compiled by the DOC indicating that Taiwan sold US$22.72 million worth of steel concrete reinforcing bars on the U.S. market from January 2015 to June 2016.
Source: Focus Taiwan News Channel