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The European Commission has confirmed the imposition of countervailing duties on stainless cold rolled coil imported from India and Indonesia.
The anti-subsidy duties have been set at 7.5% for India and 21% for Indonesia. They will be added to the anti-dumping duties of 10.2-35.3% imposed on the same products from India and Indonesia in November 2021, Kallanish notes.
“Combined, these duties bring the level of protection for the EU steel industry to above 40%, thereby countering the unfair advantage that these trade distortive practices give to the imported steel products from Indonesia and India,” the Commission says.
The anti-subsidy probe into imports from Indian and Indonesia was opened last year. The Commission said it was looking at “countering the highly trade-distorting export restrictions on key raw materials – linked also to Chinese financing”.
Emanuele Norsa Italy