S. Korea to impose anti-dumping tariffs on PVC paste resin from 4 European countries
Seoul, May 21
South Korea's trade watchdog decided on Thursday to impose anti-dumping tariffs on polyvinyl chloride paste resin products from four European nations, according to Seoul's industry ministry.
The Korea Trade Commission (KTC) made a final decision to recommend the finance ministry levy anti-dumping duties ranging between 25.79 percent and 31.55 percent on PVC paste resin imported from Germany, France, Norway and Sweden, it said.
PVC paste resin refers to fine-powder resin widely used in interior building materials, and other industrial goods, such as shoes and gloves, reports Yonhap news agency.
The decision came after South Korean chemical firm Hanwha Solutions Corp. filed a complaint against a number of European exporters in July last year.
The KTC said it concluded that the dumping of PVC paste resin produced in Germany, France, Norway and Sweden here has caused "tangible" damage to the local industry.
On Thursday, the KTC also decided to open investigation into alleged dumping of bars and rods of steel by three China-based companies -- Daye Special Steel Co., Singapore Jinteng International Pte Ltd. and Jiangsu Yonggang Group Co.
In April, South Korea's trade watchdog made a preliminary decision to impose anti-dumping tariffs on cold-rolled steel products imported from China, citing damage to the local industry.
Under the decision, the Korea Trade Commission (KTC) will ask the Ministry of Economy and Finance to impose tariffs ranging from 22.34 to 33.67 percent on imports of cold-rolled carbon steel and alloy steel products with zinc or zinc-alloy coatings from the neighbouring nation until it reaches a final ruling in September, according to its officials.
The commission opened an investigation into alleged dumping of such products by Chinese companies following a complaint from Korean firms in November.
— IANS
Reader Comments
Interesting how Europe is on the receiving end of anti-dumping from Korea! They're usually the ones imposing such duties on others. But honestly, if the PVC industries in those countries were dumping at unfairly low prices, this step makes sense. Our local polymer manufacturers in India have faced similar struggles against cheaper imports. Fair trade is the way forward!
Korea is taking a strong stand on steel from China too with those 22-33% tariffs. Good move. In India, we also need to be more vigilant about Chinese dumping, especially in sectors like steel and chemicals. Look at what happened to our local toy industry - it's almost destroyed. Protect Indian manufacturing first! 🇮🇳
While I understand the need for anti-dumping measures, I hope Korea doesn't get too protectionist. Fair competition is good for consumers too. PVC paste resin is used in so many things from flooring to gloves - higher duties might push up costs for common people. There's always a balance to strike between industry protection and consumer welfare. 🤔
This is exactly what India's anti-dumping authority should be doing more aggressively. EU countries often dump products in Asian markets, and we've seen it with steel and chemicals. The 25-31% duty range seems reasonable. But the real challenge is enforcement - are the Korean customs officials ready to properly check all imports? In India, we know how tricky that can be. 🏭
The simultaneous investigations into European PVC and Chinese steel show Korea isn't playing favorites. They're taking action where damage is proven. Indian companies should take notes -
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