Indonesia's Trade Triumph: WTO Backs Indonesian Steel Against EU Duties
Indonesia urges the EU to lift anti-dumping duties on its stainless steel after a WTO ruling found the EU's actions inconsistent with WTO rules. The dispute began after the EU imposed duties on Indonesian steel in 2021. The ruling is seen as significant for Indonesia's export market.
Indonesia has called on the European Union to remove countervailing and anti-dumping duties on its stainless steel products after a favorable ruling from a World Trade Organization panel. The WTO found the EU's measures inconsistent with its rules and urged compliance with subsidies agreements.
Trade Minister Budi Santoso hailed the WTO ruling as a major win for Indonesia, emphasizing its importance in securing improved market access for the country's stainless steel exports to the EU. He urged the EU to promptly align its measures with the WTO's decision.
The dispute, initiated by Indonesia in 2023, highlights ongoing trade tensions with the EU, which imposed tariffs on Indonesian stainless steel starting in 2021, severely affecting exports. Despite these disputes, both parties recently finalized negotiations on a free trade deal.
(With inputs from agencies.)
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