Anti-dumping duties on steel, tinplate 'a bit late but apt to protect local industry'
KUALA LUMPUR: Malaysia is somewhat late in implementing anti-dumping duties on steel imports from South Korea and China, an economist said.
Nusantara Academy for Strategic Research senior fellow Dr Azmi Hassan also said Malaysia's decision to start imposing such duties on South Korea, China and two others from May 11 should not be seen seen as targeting certain countries.
Azmi told Business Times that countries such as Vietnam, Thailand and Indonesia had introduced similar measures weeks earlier.
"Their call came in response to the 25 per cent tariff imposed by United States (US) President Donald Trump in January on steel and iron products exported to the US," he said.
In March, US Commerce Secretary Howard Lutnick reaffirmed that the United States intends to implement a 25 per cent tariff on all aluminum and steel imports starting March 12.
"Following that executive order, steel from China, South Korea and Japan began flooding the Malaysian market at very low prices, effectively being dumped here, which poses a serious threat to our local steel and iron industry," Azmi said.
He, however, said this would not hurt Asean Plus Three (APT) relations, as other Asean countries had already implemented similar anti-dumping policies before us.
"Malaysia's move should not be seen as targeting China, South Korea or Japan specifically. It's simply a necessary step to protect our domestic industry in light of the trade distortion triggered by the US tariff decision," he added.
On Tuesday, Malaysia moved to impose definitive anti-dumping duties on imports of certain flat-rolled products of iron or non-alloy steel originating from China, India, Japan and South Korea.
According to the Investment, Trade and Industry Ministry, the decision follows an investigation conducted under the Countervailing and Anti-Dumping Duties Act 1993 and the corresponding Regulations of 1994.
The investigation was launched in response to a petition submitted by Perusahaan Sadur Timah Malaysia Bhd, representing the domestic producers of the affected products.
Definitive anti-dumping duties have been imposed at rates ranging from 4.48 per cent to 20.42 per cent for China, 27.88 per cent for India, 15.74 per cent to 36.80 per cent for Japan, and 21.60 per cent to 35.43 per cent for South Korea.
The ministry said the Customs Department will implement the collection of these duties on the affected imports for a period of five years, starting from May 11 this year until May 10, 2030.
"With the imposition of anti-dumping duties on the imports of subject merchandise from the alleged countries, it is expected that the effects of unfair trade practices will be addressed," it said.
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