Taipei, Aug. 30 (CNA) Taiwan has extended the suspension of its anti-dumping tariff previously imposed on Ukrainian carbon steel plate suppliers for another year, according to the Ministry of Finance (MOF) Customs Administration.

In a statement, the MOF said on Tuesday that the suspension, which will start from Sept. 14 and run through Sept. 13, 2024, came after the Taiwan government took into account the political and economic conditions in Ukraine, which has been embroiled in full-blown war since Russia invaded in February 2022.

The MOF said the decision to further suspend the anti-dumping duty against Ukrainian carbon steel plate exporters came in line with how Taiwan's allies have been dealing with Ukraine, adding the decision was made after consulting with the Ministry of Economic Affairs.

Anti-dumping duties on carbon steel plate suppliers from Brazil, China, India, Indonesia, Ukraine and South Korea were extended on Sept. 14, 2022 for five years after an investigation found firms from the countries had been selling their products at low prices in Taiwan which had caused damage to the Taiwanese industry.

The penalty was first imposed on those countries, plus Ukraine, on Aug. 22. 2016, according to the MOF.

Regarding Ukraine, carbon steel plate makers or exporters had faced an anti-dumping tariff of 49.29 percent, but it was suspended for a year on Sept. 14, 2022 and, the the MOF announced Tuesday, that suspension would be extended for another year from Sept. 14, 2023.

Brazil carbon steel plate suppliers currently face a 31.10 percent anti-dumping tariff, exporters from China must pay 59.57 percent, Indian firms 32.82 percent and Indonesian companies 42.91 percent.

Regarding South Korea, Hyundai Steel Co. has been imposed with an anti-dumping duty of 5.80 percent, while POSCO, POSCO International Corp., Donghwa Corp, GS Global Corp. and Hyosung TNC Corp. have been slapped with a duty of 19.99 percent and other Korean suppliers have faced tariffs as high as 80.50 percent.

In addition to carbon steel plates, the MOF has imposed anti-dumping tariffs of up to 77.30 percent against certain flat-rolled steel products plated or coated with zinc or zinc-alloys from Chinese and South Korean suppliers for another five years starting from Sept. 14, 2022, as their unfair practices have also caused material damage to the Taiwanese industry.

Source: Focus Taiwan