INSUBCONTINENT EXCLUSIVE:
Anti-dumping duties on select steel products have been revoked in the budgetNew Delhi: Government on Tuesday announced revoking of
anti-dumping duties on certain steel products imported from countries including China, a move aimed at containing high prices of metals and
promoting domestic manufacturing.Countervailing duty (CVD) is also being permanently removed on imports of certain hot-rolled and
cold-rolled stainless steel flat products from China."Certain anti-dumping and CVD on stainless steel and coated steel flat products, bars
of alloy steel and high-speed steel are being revoked in larger public interest considering prevailing high prices of metals," finance
minister Nirmala Sitharaman said in her budget speech.Engineering exporters have demanded from the government to take steps to control high
steel prices.The anti-dumping duty was removed on straight length bars and rods of alloy steel, imported from China
It was imposed on October 18, 2018
A similar move was done for flat-rolled products of steel, plated or coated with an alloy of aluminium or zinc imported from China, Vietnam
and Korea.It was also revoked on high-speed steel of non-cobalt grade, imported from Brazil, China and Germany
It was slapped on September 25, 2019.Countries initiate anti-dumping probes to determine if the domestic industry has been hurt by a surge
As a counter-measure, they impose duties under the multilateral WTO regime
Anti-dumping measures are taken to ensure fair trade and provide a level-playing field to the domestic industry.They are not a measure to
restrict imports or cause an unjustified increase in the cost of products
