EU: Anti-subsidy duties on imports of “stainless steel cold-rolled flat products” from Indonesia and India
The anti-subsidy duties have been set at 7.5% for India and 21% for Indonesia.
Imports of “stainless steel cold-rolled flat products” from Indonesia and India
The European Commission today announced that the European Union (EU) has imposed duties on imports of “stainless steel cold-rolled flat products” originating in Indonesia and India.
According to the EC release, the EU is countering the “highly trade-distorting” export restrictions on key raw materials linked also to Chinese financing. The EU is also taking action against preferential financing provided by China to Indonesia, as part of a complex subsidy arrangement designed for export to the EU.
The anti-subsidy duties are as follows:
- 7.5% for India
- 21% for Indonesia.
The anti-subsidy duties are in addition to anti-dumping duties imposed in November 2021, which range between 13.9% and 35.3% for India, and between 10.2% and 20.2% for Indonesia. Combined, these duties bring the level of protection for the EU steel industry to above 40%.
For more information, contact a professional with KPMG’s Trade & Customs services:
John L. McLoughlin
Luis (Lou) Abad
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