CNA reported that Taiwan has extended anti-dumping tariffs on steel makers from China and South Korea for another five years after an investigation found firms from those countries have sold their products at unfairly low prices in the Taiwan market, causing material damage to their Taiwanese counterparts. In an announcement posted by the Customs Administration of the Ministry of Finance, the punitive financial burden has been extended from Aug 29, 2019 to Aug 28 2024 against Chinese and South Korean exporters of certain steel products such as stainless steel and cold-rolled coils and sheets. According to the administration, the steel items in the case are used for production in a wide range of products such as car parts, kitchen equipment, computer components, electrical motors, cable cars, shipping containers and building materials. The tariffs faced by Chinese and South Korean firms stand at 38.11% and 37.65 percent, respectively.
Before the previous punitive tariffs ended, the administration said, Yieh United Steel Corp & Tang Eng Iron Works Co, two of the leading steel makers in Taiwan, filed a petition on Aug. 8, arguing that the termination of the punishment could harm the Taiwan steel market if Chinese and South Korean firms continued to dump their products here.
Source of information