Taiwan Imposes Anti-Dumping Duties on Chinese Beer and Steel to Protect Local Industry

Taiwan's Ministry of Finance announced the imposition of anti-dumping duties on Chinese beer and hot-rolled steel, starting next Thursday for a four-month period. This measure aims to address the 'substantial damage' inflicted on Taiwan's domestic industry, as per reports by the Taipei Times.

The finance ministry, in collaboration with the Ministry of Economic Affairs, tentatively concluded a dumping trend in these products, leading to significant harm locally. Beer tariffs are set between 13.13% and 64.14%, and steel tariffs will be 16.9% or 20.15%. The decision comes after anti-dumping investigations were initiated in March, amid allegations of unfair competition.

China, Taiwan's largest trading partner, supplies 70% of the local beer market. However, the Taiwanese government, backed by public opinion, moves to ensure market stability against impact from low-priced imports. Local firms reported a 20% market share loss and 15% production decline due to Chinese competition, necessitating protective duties.

(With inputs from agencies.)