Workers work at a factory producing stainless steel utensils on the outskirts of Jammu, India. (Photo: Reuters).
After conducting an investigation, the European Commission (EC) has officially imposed an anti-dumping duty in the range of 10.2 – 20.2% on stainless steel products from Indonesia and 13.9 – 35 .3% for Indian stainless steel.
The decision to impose tariffs took effect from November 19, in order to remedy the damage caused by steel products of Indonesia and India to EU steel producers such as Acerinox and Outokumpu.
In addition, the EC also imposed tariffs on optical fiber cables imported from China as well as mono ethylene glycol (MEG) imported from the US and UAE.
Specifically, the anti-dumping tax rate for China’s fiber optic cables ranges from 19.7% to 44%. The fiber optic industry plays a very important role in the EU’s technology transformation program, and also creates a large number of jobs for people in the common economic bloc.
Finally, the anti-dumping duty rate for MEG products is 7.7% for businesses in the UAE and in the range of 3 – 60.1% for companies in the US. MEG is an important raw material for the production of polyethylene terephthalate (PET), the substance used in plastic bottles and polyester fibers.
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