TAIPEI: The Ministry of Finance (MOF) has launched anti-dumping and anti-subsidy investigations into steel products sold by China on the local market in a bid to protect the interests of Taiwanese firms.
The ministry said Chinese steel products being looked at by the anti-dumping investigation include galvanized steel, carbon steel plates and cold rolled stainless steel, while the anti-subsidy probe involves hot rolled stainless steel and cold rolled carbon steel.
In addition to protecting local steel manufacturers, the probe aims to provide Taiwan with an additional bargaining chip in talks with the United States as it seek exemption from Washington’s imposition of a 25 percent tariff on imported steel and a 10 percent tariff on aluminum in March, according to the ministry.
On March 8, U.S. President Donald Trump signed an order under Section 232 of the Trade Expansion Act of 1962 to impose additional tariffs on imported steel and aluminum. The duties took effect on Friday, 15 days after the signing.
It was the first time in more than three decades the law has been invoked to protect a domestic industry from competition brought about by imports.
