China Sets Duties On Stainless Steel Products From EU, Three Asian Nations
The Chinese government announced last week that it will impose anti-dumping duties on some stainless steel products imported from the European Union, Japan, South Korea and Indonesia.
According to a news report, the tariffs will range from 18.1 percent to 103.1 percent and will be applied to stainless steel billets and hot-rolled stainless steel plates. The penalties took effect July 23.
The news report notes China is the world’s largest stainless steel producer, exporting 26.71 million tons of stainless steel products in 2018, up 2.4 percent from 2017. China imported 1.85 million tons of stainless steel products in 2018, a 53.7 percent increase from 2017.