Philippines Tariff Committee refuses tariff protection request for NSC
Philippines Tariff and Related Matters Committee has recently announced that it refuses request of Global Steel Works International, new owner of National Steel Corporation (NSC) for tariff protection.
Global Steel Works International, a unit of Global Infrastructure Holdings Ltd (GIHL) stated in its petition that it demands tariff on tinplates to be increased to 35% from its current level of 0% and tariffs on hot rolled and cold rolled coils to 30% from their current level of 3%. The company did not mention the tariffs on
semis in its petition, as it does not plan to revive
production of
semis at NSC. It is stated that Global Steel Works demanded increase in duties, as it needs time to enhance NSC and make it competitive.
The Committee refused demands of Global Steel Works however announced that it will continue to conduct its studies on effects of tariffs on steel industry.