EU cuts anti-dumping duties on stainless steel imports from Taiwan

The European Commission, the executive body of the European Union, has decided to reduce anti-dumping duties for exporters of flat stainless steel cold rolled steel (SSCR) products from Taiwan.

The country's Ministry of Economic Affairs, citing the official magazine of the European Union, says the European Commission has cut anti-dumping tariffs on Taiwanese SSCR exporters from 0 to 6.8 percent, compared with a preliminary decision in March that set a tariff range of 10 , 9 to 12 percent.

According to the final EU decision, Taiwan's industrial enterprise Chia Fa was freed from the financial burden by completely removing the anti-dumping tariff from the 12 percent previously set.

Anti-dumping fiscal duties for Tang Eng Iron Works and Yieh United Steel were cut to 6.8 percent from 10.9 percent, while other Taiwanese firms also benefited from tariff cuts to 6.8 percent from 12 percent as a result of the final decision ... However, by the same decision, the EU raised anti-dumping tariffs for Chinese exporters SSCR by 0.1 percentage points from the established in March in the range of 24.4 - 25.3 percent.

In May 2014, the European Steel Association (EUROFER) filed a complaint with the EU, accusing Taiwanese and Chinese SSCR exporters of selling their products at unreasonably low prices in the EU market. Since then, the European Commission has launched an investigation. The Taiwan ministry is fairly conclusive with the results, which have reduced the financial burden on the shoulders of Taiwanese SSCR exporters to the EU, which is the largest buyer of Taiwanese products.

In 2014, Taiwan's SSCR exports to the EU totaled $ 611 million, up 38.57 percent from a year earlier. The EU accounted for 32.13 percent of Taiwan's total SSCR exports last year. In 2013, Taiwan's SSCR exports to the EU grew 20.82 percent over the previous year.