Source: Hellenic Shipping News
In order to guard the domestic steel industry against cheap imports coming from China, the government is likely to impose countervailing duty of 18.95% on imports of some particular type of steel products.
The Directorate General of Anti- Dumping and Allied Duties (DGAD), in its observations, concluded that the domestic industry has lost sales opportunities, despite adequate demand in the country, which can be attributed directly to the subsidised imports from China.
The investigative arm of the commerce ministry, DGAD has suggested that the actual duty should be the difference between the anti-dumping duty payable if any and the proposed quantum of countervailing duty which is 18.95%.
DGAD added that prices offered by the foreign producers and the domestic industry is significant.