Government To Impose Final Safeguard Duty On Hot Rolled Steel Plate Imports

Government To Impose Final Safeguard Duty On Hot Rolled Steel Plate Imports

KUALA LUMPUR, July 1 (Bernama) — Malaysia will impose a final safeguard duty on Hot Rolled Steel Plate (HRP) imports with effect from July 2,2015, for a period of three years to protect the local industry.

This safeguard duty is imposed to prevent and remedy the effects of serious injury to the domestic industry caused by the surge in imports of HRP, the Ministry of International Trade and Industry said in a statement.

The implementation of the measure, shall by way of progressive liberalisation for the period of three years, starting from July 2,2015 – July, 1, 2016 (17.40 per cent), July 2, 2016 – July 1, 2017 (13.90 per cent), and July 2, 2017 – July 1, 2018 (10.40 per cent).

The provisional safeguards duty would replace the provisional duty of 23.93 per cent on Dec 14, 2014.

The government had initiated the safeguard investigation on Aug 18, 2014 based on a petition filed by Ji Kang Dimensi Sdn Bhd on behalf of domestic HRP producers.

“The petitioner alleged that the increase in the import of HRP from 2011 to 2013 have caused serious injury to the domestic industry,” it added.

–BERNAMA