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The Sun

32 minutes ago

• The Sun

Malaysia to maintain anti-dumping duties on CRC imports from China, Japan

KUALA LUMPUR: The government has completed the administrative (sunset) review and made an affirmative final determination to continue imposing anti-dumping duties on imports of cold rolled coils (CRC) of iron or non-alloy steel (over 1,300mm wide) from China and Japan, excluding those used for automotive and transformer finwall applications, or tin mill black plate. The Ministry of Investment, Trade and Industry (MITI) said the rate of anti-dumping duties for the Chinese companies are; Angang Steel Company Limited at 4.82 per cent, Maanshan Iron and Steel Co., Ltd (4.76 per cent), Shougang Jingtang United Iron & Steel Co., Ltd (8.74 per cent), and other producers and exporters (26.38 per cent). 'The rate of AD duties for Japanese producers and exporters will be imposed at 26.39 per cent. 'The Royal Malaysian Customs Department will enforce the collection of the anti-dumping duties on the imports of the subject merchandise for a period of five years, effective from June 23, 2025 to June 22, 2030,' it said in a statement today. MITI also noted that the government has made a negative final determination to terminate the imposition of anti-dumping duties and the investigations on the imports of the subject merchandise originating or exported from South Korea and Vietnam, effective from June 23, 2025. 'Interested parties such as local producers, importers, foreign producers and exporters and associations related to the administrative (sunset) review can have access to the non-confidential version of the final determination report by submitting a written request to MITI director of trade practices section,' it said.

Yomiuri Shimbun

33 minutes ago

• Yomiuri Shimbun

US May Target Samsung, Hynix, TSMC Operations in China, Sources Say

June 20 (Reuters) – The U.S. Department of Commerce is considering revoking authorizations granted in recent years to global chipmakers Samsung SK Hynix and TSMC making it more difficult for them to receive U.S. goods and technology at their plants in China, according to people familiar with the matter. The chances of the United States withdrawing the authorizations are unclear. But with such a move, it would be harder for foreign chipmakers to operate in China, where they produce semiconductors used in a wide range of industries. A White House official said the United States was 'just laying the groundwork' in case the truce reached between the two countries fell apart. But the official expressed confidence that the trade agreement would go forward and that rare earths would flow from China, as agreed. 'There is currently no intention of deploying this tactic,' the official said. 'It's another tool we want in our toolbox in case either this agreement falls through or any other catalyst throws a wrench in bilateral relations.' Shares of U.S. chip equipment makers that supply plants in China fell when the Wall Street Journal first reported the news earlier on Friday. KLA Corp KLAC.O dropped 2.4%, Lam Research LRCX.O fell 1.9% and Applied Materials AMAT.O sank 2%. Shares of Micron, a major competitor to Samsung and SK Hynix in the memory chip sector, rose 1.5%. A TSMC spokesman declined comment. Samsung and Hynix did not immediately respond to requests for comment. Lam Research, KLA and Applied Materials did not immediately respond, either. In October 2022, after the United States placed sweeping restrictions on U.S. chipmaking equipment to China, it gave foreign manufacturers like Samsung and Hynix letters authorizing them to receive goods. In 2023 and 2024, the companies received what is known as Validated End User status in order to continue the trade. A company with VEU status is able to receive designated goods from a U.S. company without the supplier obtaining multiple export licenses to ship to them. VEU status enables entities to receive U.S.-controlled products and technologies 'more easily, quickly and reliably,' as the Commerce Department website puts it. The VEU authorizations come with conditions, a person familiar with the matter said, including prohibitions on certain equipment and reporting requirements. 'Chipmakers will still be able to operate in China,' a Commerce Department spokesperson said in a statement when asked about the possible revocations. 'The new enforcement mechanisms on chips mirror licensing requirements that apply to other semiconductor companies that export to China and ensure the United States has an equal and reciprocal process.' Industry sources said that if it became more difficult for U.S. semiconductor equipment companies to ship to foreign multinationals, it would only help domestic Chinese competitors. 'It's a gift,' one said.

Time of India

36 minutes ago

• Time of India

India to become fourth-largest EV producer by 2030: Report

India's electric four-wheeler manufacturing capacity is projected to grow tenfold to 2.5 million units by 2030, from 0.2 million units currently, according to new research by Rhodium Group. This expansion would make India the fourth-largest electric vehicle (EV) producer globally, following China, the European Union, and the United States. The report, part of Rhodium's Global Clean Investment Monitor , notes that India's manufacturing capacity is expected to exceed domestic demand by 1.1–2.1 million units over the next five years. The report suggests this surplus may create an opportunity for exports but also cautions that Indian automakers will need to reduce costs to compete with Chinese manufacturers. 'This far exceeds India's projected 2030 EV demand (which likely reaches anywhere from 430,000 to 1.4 million vehicles depending on the pace of policy and battery costs), suggesting the potential for future exports,' Rhodium said. 'This push aligns with the government's strategy to ' Make in India for the world ', but Indian companies will need to drive down costs if they want to compete with exports from China.' Domestic sales and global rankings India's domestic EV car demand is projected to reach between 430,000 and 1.4 million units by 2030, up from around 100,000 in 2024. With total car sales currently estimated at 6 million units, this implies an EV penetration rate of 7–23 per cent in the passenger vehicle segment. In the last financial year, domestic manufacturers Tata Motors, MG Motor, and Mahindra accounted for nearly 90 per cent of EV sales, based on Vahan dashboard data. India's projected capacity of 2.5 million units by 2030 will follow China's 29 million, the EU's 9 million, and the US's 6 million units. Rhodium's report notes that India will lead all other countries outside of these three markets, surpassing Japan and South Korea in anticipated production capacity. Japan and South Korea currently have operational capacities of 1.1 million and 500,000 units respectively. Their 2030 capacity is expected to reach 1.4 million and 1.9 million units, respectively. Policy approach and battery production Rhodium Group notes that India's EV sector growth is being shaped by a combination of industrial policy, market incentives, and trade protection measures. Consumer subsidies are linked to localisation requirements, and incentives have been provided to manufacturers of EV components and advanced batteries. India has also introduced measures to expand charging infrastructure. To protect local production, India maintains import tariffs of 70–100 per cent on fully built EVs. 'This protective stance has helped domestic production grow but also limits consumer choice and raises costs. Nearly 100 per cent of India's EV manufacturing is for its domestic market,' the report added. The report also highlights India's position in battery module manufacturing, noting that the country is set to become the largest module producer outside China, the US, and Europe. While cell production capacity will still trail major markets such as China, Europe, the US, and Canada by 2030, it is projected to exceed that of South Korea, Malaysia, Japan, and others. India's EV penetration rate stood at 2 per cent in 2024. In comparison, Vietnam's rate rose from 3 per cent in 2022 to 17 per cent in 2024, led by local automaker VinFast.