Australia quietly builds tariff wall on Chinese steel exports
Australia quietly builds tariff wall on Chinese steel exports
Australia quietly builds tariff wall on Chinese steel exports
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Industry Minister Tim Ayres has imposed a 10 per cent levy on ceiling frames from China after the Anti-Dumping Commission concluded they were being subsidised by the government and were unfairly undercutting local manufacturers. That added to interim tariffs of between 35 per cent and 113 per cent on a range of products, including bolts and hot-rolled coil steel, which began in December and could be made permanent.
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Senior Chinese officials warned that the introduction of the tariffs could harm iron ore exports, given that they are processed into these products [...] But Ayres, citing “the turbulence of global trade and significant overcapacity”, said the government wanted to “strengthen our trade defences against unfair trade practices” to help local manufacturers.
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The government has several other active investigations into Chinese steel manufacturing, which could result in more trade restrictions being imposed across a broader range of products to protect the industry. The most recent were put in place after a request from NSW producer Rondo.
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