Malaysian Ministry To Impose Definitive Safeguard Duties On Imported Steel Products

KUALA LUMPUR, April 14 (Bernama) -- The Malaysian government has made a final determination to impose definitive safeguard duties for a three-year period, in accordance with Section 25, Safeguards Act 2006. In a statement Thursday, the Ministry of International Trade and Industry (MITI) said, the decision was made after taking into account the serious impact to the domestic industry on the increase in imports of steel concrete reinforcing bar (rebar) and steel wire rods (SWR) and deformed bar in coils (DBIC). For rebar, the duties will be imposed from April 14, starting with 13.42 per cent, which would be reduced to 12.27 per cent a year later, and to 11.1 per cent two years later (April 14, 2019), it said. MITI said for SWR and DBIC, the safeguard duties would be imposed from April 15 at 13.9 per cent, which would be cut to 12.9 per cent after a year and eventually to 11.90 per cent. "For SWR and DBIC, the definitive safeguard duties will exclude products with carbon content of 0.6 per cent or more, or diameter greater than 16 millimetres; products imported for the end-usage purposes of cars, electrical and electronic, oil and gas; and, DBIC imported for the end-usage purposes of earthquake proof construction industries of all grades and specifications," it said. MITI said the government had initiated two safeguard investigations on imports of rebar and SWR & DBIC on May 28, 2016 and May 29, 2016, respectively based on petitions filed by Malaysia Steel Association on behalf of the domestic industry. "The petition alleged that the increased importation of both products into Malaysia had seriously injured the domestic industry," it said. It said during the investigations, the government assessed the issues and concerns submitted by all interested parties in accordance with the Safeguards Act 2006 and Safeguards Regulations 2007. --BERNAMA