South Korea's Fair Trade Commission has announced that it will recommend that the country’s Ministry of Strategy and Finance impose antidumping (AD) duty on galvanized low carbon steel wire imports from China.
Accordingly, the commission has decided that the domestic industry is being damaged due to the dumped imports from China and it will recommend that the Ministry of Strategy and Finance impose an antidumping duty of 8.60 percent on aforementioned imports from China for a period of five years. The ministry is expected to announce its final decision by July 31, 2018.
According to the commission, in 2016 Chinese products accounted for 70 percent of South Korea's galvanized steel wire market.
The products in question currently fall under Customs Tariff Statistics Position Numbers 7217.20.0000 and 7229.90.9090.