The Chinese government has begun this week to impose anti-dumping tariffs on certain steel producers located in Russia, South Korea, Taiwan, Kazakhstan and Ukraine.
The tariffs went into force on Wednesday and range between levels of 3% and 55% depending on which individual producers the Chinese government suspects are selling cold-rolled steel at below market prices.
The Commerce Ministry has announced that the tariffs will be applied retrospectively to September 23rd 2003 when the measures were originally due to go into effect, but were delayed by what the government called “a special situation”.
Reports have indicated that there has been little reaction to China’s decision from the countries concerned, though officials in Taiwan are said to be unworried by the move. Taiwan’s largest steel producer, China Steel, is to be subject to a 24% tariff, whilst subsidiary firm Yieh Loong Enterprise will pay an 8% levy.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment