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Govt may impose countervailing duty on certain steel products from China, Vietnam

Govt may impose countervailing duty on certain steel products from China, Vietnam


News is brought to you by Mr. Shailesh Karia


Published on date 07th August 2019.


The government may impose countervailing duty on certain kind of steel pipes and tubes from China and Vietnam for five years, a move to guard domestic players from cheap imports. This recommendation to impose the duty on `Welded Stainless Steel Pipes and Tubes` was made by the commerce ministry`s investigation arm DGTR after concluding a probe in this regard.


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The Directorate General of Trade Remedies (DGTR) conducted the probe following a complaint from Stainless Steel Pipe And Tubes Manufacturer Association; South India Stainless Steel Pipe And Tubes Manufacturer Association; and Haryana Stainless Steel Pipe And Tube Manufacturer Association. In its final findings, the directorate concluded that the product has been exported to India from these two countries at subsidised value.


"The definitive countervailing duty is recommended to be imposed from the date of notification to be issued in this regard by the central government" on all imports of these goods from China and Vietnam, it added. The recommended duty was in the range of 29.88 percent and 10.33 percent. While the DGTR recommends duty, finance ministry takes the final call to impose it.


The purpose of imposition of countervailing duty, in general, is to eliminate injury caused to the domestic industry by unfair trade practices of subsidisation so as to re-establish a situation of open and fair competition in the Indian market. It said that imposition of countervailing duty would not restrict imports from these countries and would not affect the availability of the products to the consumers.


Source : https://www.moneycontrol.com//


 





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