Anti-dumping duty Current Affairs - 2020
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Union Government has imposed anti-dumping duty on import of cold-rolled flat products of stainless steel for 5 years from 7 countries.
The government’s decision comes on the recommendation of Directorate General of Anti-dumping and Allied Duties (DGAD) in the wake of rising incidence of dumping. It was hampering the performance of domestic industry and with steel prices on a decline.
These countries are China, South Korea, United States, South Africa, Thailand and Taiwan and the European Union.
The highest duty has been imposed on steel imports from China at 57.39 per cent, followed by EU at 52.56 per cent. Imports from Thailand will have the least duty imposed at 4.58 per cent.
Earlier in September 2015 Government had imposed 20 per cent provisional safeguard duty on a specific hot-rolled imported steel product.
Anti-dumping duty: It is counter import measure used by a country under the multilateral World Trade Organisation (WTO) regime to protect its domestic producers and market from below-cost/cheap imports. It varies from product to product and from country to country.
Tags: Anti-dumping duty • Business • China • Current Affairs 2016 • Economy
The Union Finance Ministry has imposed anti-dumping duties on imported Chinese auto parts used in commercial vehicles for a period of five years.
Decision in this regard was taken following recommendations of the Directorate-General of Anti-Dumping and Allied Duties (DGAD).
Chinese items like Front-axle beam and steering knuckles meant for heavy and medium commercial vehicles were imported into India at prices less than even cost of production in domestic market.
Anti-dumping duties was also imposed on
- Fully-drawn/oriented yarn, spin-drawn yarn and flat yarn of polyester (non-textured) imported from China and Thailand for 5 years.
- Plain medium density fibre board of thickness six mm and above imported from Malaysia, China, Thailand and Sri Lanka for a period of 5 years.
- Hexamine used in making of phenolic resins imported from China and the United Arab Emirates (UAE) for 5 years.
Anti-dumping duties: It is counter import measure used by a country under the multilateral World Trade Organisation (WTO) regime to protect its domestic producers and market from below-cost/cheap imports. It varies from product to product and from country to country.