Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

EU Hits India With Five-Year Wire Tariffs to Counter Subsidies

Don't Miss Out —
Follow us on:

Sept. 2 (Bloomberg) -- The European Union imposed five-year tariffs on stainless-steel wires from India, saying EU producers such as Ugitech SA of France have been hurt by Indian subsidies.

The duties as high as 3.7 percent punish Indian manufacturers including Mukand Ltd. for allegedly receiving trade-distorting government aid. Two Indian exporters, KEI Industries Ltd. and Viraj Profiles Ltd., face a zero duty rate.

EU stainless-steel wire producers that also include Germany’s Hagener Feinstahl GmbH, Italy’s Rodacciai SpA and Spain’s Inoxfil SA suffered “material injury” as a result of subsidies to Indian competitors, the 28-nation EU said in a decision today in Brussels. The duties follow provisional anti-subsidy levies introduced in May and will take effect after being published in the EU Official Journal by Sept. 8.

The EU is also threatening to apply a separate set of five-year tariffs on Indian stainless-steel wires to counter alleged below-cost sales, a practice known as dumping. In May, the bloc applied provisional anti-dumping duties as high as 27.8 percent on the imports from India. EU governments must decide by Nov. 8 whether to turn those measures into “definitive” duties.

The provisional anti-subsidy duties, introduced the same day as the preliminary anti-dumping measures, were as high as 4.3 percent. The EU will refund importers the difference with the lower five-year rates.

Sweet Corn

In a second decision today, the EU renewed for another five years anti-dumping duties as high as 14.3 percent on sweet corn from Thailand to curb competition for French, Hungarian and Italian producers.

In a third decision, the EU expanded the scope of a 64.3 percent anti-dumping duty on automotive-industry wire from China to cover more forms of the product, called molybdenum wire. The bloc concluded that Chinese exporters dodged the levy by shipping “slight modified” molybdenum wire to Europe and lowered the minimum weight threshold to 97 percent from 99.95 percent in the description of the product covered by the duty, which aims to curb competition for Austria’s Plansee SE.

To contact the reporter on this story: Jonathan Stearns in Brussels at jstearns2@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.