Mon, Jun 12, 2017 - Page 16 News List

Mexico imposes tariffs on Taiwan, China steel firms

Staff writer, with CNA

Mexico has initiated anti-dumping tariffs on certain flat coated steel exporters from Taiwan and China after it concluded that these firms sold their products at unfairly low prices in its market, the Ministry of Economic Affairs said.

The decision to impose a 22.26 percent anti-dumping tariff on China Steel Corp (CSC, 中鋼), the largest steelmaker in the nation, for its sales of flat coated steel products was made last week in the final ruling of an anti-dumping investigation, the ministry said.

CSC was the mandatory respondent in the case, it added.

Other Taiwanese exporters face a 52.57 percent financial penalty after Mexico found the firms to have caused material damage to their counterparts in the Latin American nation, the ministry said.

Mexico has also imposed a 22.22 percent anti-dumping duty on China’s Baoshan Iron & Steel Co (寶鋼), and a 22.26 percent tariff on Beijing Shougang Co (北京首鋼), Shougang Jingtang United Iron & Steel Co (首鋼京唐) and Tangshan Iron & Steel Co (唐山鋼鐵), the ministry said.

Other Chinese steel exporters have been slapped with a 76.33 percent anti-dumping tariff, it added.

The anti-dumping probe began in December 2015 after Ternium Mexico and Tenigal filed a complaint in September that year, accusing firms from Taiwan and China of dumping flat coated steel in Mexico.

The Mexican Bureau of Foreign Trade cited data compiled by Gobal Trade Atlas as saying that Taiwan from 2012 to last year sold US$24.82 million, US$74.08 million, US$57.24 million, US$64.08 million and US$63.04 million worth of flat coated steel products to Mexico each year respectively.

The bureau said that Taiwan was the fourth-largest flat coated steel supplier to Mexico last year, behind the US, South Korea and Japan, with a 4.52 percent share of total purchases by the country.

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