Days After G20 Summit, India Extends Anti-Dumping Duty on Chinese Steel For Five More Years

Just days after the G20 summit in New Delhi, during which China repeatedly attempted to derail the consensus on key issues, India has extended the imposition of an anti-dumping duty on certain Chinese steel for a period of five years.

According to an official gazette notification by the Ministry of Finance, an anti-dumping duty $613 per tonne has been imposed on flat-base steel wheels from China.

Such duty on steel wheels was initially imposed in 2018 and the ministry has now recommended its continuation for another five years.

"The Indian industry does not gain any undue advantage on extension of existing duties," the Gazette notification said.

"The subject goods are likely to enter the Indian market at dumped prices, if the anti-dumping duties in force cease to operate," it said.

The notification states that there is healthy competition in the Indian market and continuation of the duties would not deprive the user industry of any requirements.

In simple terms, anti-dumping duties are taxes imposed on imported goods to offset the difference between their export price and their normal value.

These duties are imposed when dumping, which refers to selling goods at a lower price than their actual value, causes harm to producers of similar products in the importing country.