Anti-Dumping Duty On Steel Products Imported From China:
The Directorate General of Trade Remedies (DGTR) has initiated a probe to review the need for the continuing imposition of anti-dumping duty on certain types of steel products imported from China, following complaints from domestic industry.
- The duty on certain steel products was first imposed in February 2017 and is set to expire on 16th May 2021.
- Some of the major private domestic producers of steel have filed an application before the DGTR for a sunset review of the anti-dumping duty imposed on imports of seamless tubes, pipes, and hollow profiles of iron, alloy, or non-alloy steel from China.
- The applicants have alleged that the dumping of these products from China has continued even after the imposition of anti-dumping duty, and there has been a significant increase in the volume of imports.
- DGTR would review the need for the continued imposition of the duties in force and examine whether the expiry of existing duties is likely to lead to the continuation or recurrence of dumping and impact the domestic industry.
Anti Dumping Duty:
- Dumping is said to occur when the goods are exported by a country to another country at a price lower than the price it normally charges in its own home market.
- This is an unfair trade practice which can have a distortive effect on international trade.