Mon, Feb 12, 2018 - Page 16 News List

Malaysia hits exporters with anti-dumping tariffs

Staff writer, with CNA

Malaysia has levied anti-dumping tariffs on steel exporters from Taiwan, China, South Korea and Thailand after finding that they sold their products at unfairly low prices in the Malaysian market.

Malaysia’s Ministry of International Trade and Industry on Thursday said that it would impose anti-dumping tariffs of up to 111.61 percent on cold-rolled stainless steel exporters from Taiwan and the other three countries, effective for five years, following an investigation into their pricing practices.

The Royal Malaysian Customs Department would enforce the collection of anti-dumping duties until Feb. 7, 2023, the ministry said.

Exporters from Taiwan face anti-dumping tariffs of up to 14.02 percent, it added.

Taiwan-based Tang Eng Iron Works Co (唐榮) faces a tariff of 7.78 percent and Walsin Lihwa Corp (華新麗華) a 2.79 percent tariff, while Chia Far Industrial Factory Co (嘉發) and Yieh United Steel Corp (燁聯) do not have to pay the duties, it said.

The four Taiwanese firms were the mandatory respondents in the case.

Other Taiwanese cold-rolled stainless steel exporters would have to pay the highest 14.02 percent tariff, the ministry said.

Exporters from China face anti-dumping tariffs ranging between 2.68 and 23.95 percent, companies from South Korea face duties of up to 7.27 percent and Thai exporters face tariffs of between 22.86 and 111.61 percent.

Data compiled by the Ministry of Economic Affairs showed that Taiwan was the largest cold-rolled stainless steel supplier to Malaysia in the first nine months of last year, accounting for 47 percent of the nation’s total imports of the product.

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