TAIPEI (TVBS News) — Taiwan's Ministry of Economic Affairs (經濟部) pledged Wednesday (Aug. 27) evening to support local manufacturers after the U.S. International Trade Commission announced plans to impose anti-dumping duties on Taiwan's corrosion-resistant steel products, with rates ranging from 10.85% to 67.81%. The punitive tariffs announced Tuesday represent the latest escalation in trade tensions affecting Taiwan's steel sector. The American decision comes as part of a broader investigation into steel imports from 10 countries, including Taiwan, aimed at protecting domestic industries from allegedly unfair pricing practices.
Anti-dumping duties have been levied on various Taiwanese manufacturers, with Yieh Phui Enterprise (燁輝) receiving the most favorable rate of 10.85%. Sheng Yu Steel (盛餘), Kounan Steel (光南), and Meglobe (佑錋) face significantly higher penalties of 67.81% duties on their exports. Brazil's Companhia Siderúrgica Nacional faces the steepest rate among all investigated countries at 191.26%, followed by Vietnam's Hoa Sen Group with 110.19%.
Taiwanese manufacturers have expressed their intention to seek judicial relief in U.S. courts to counter the punitive anti-dumping duties. The Ministry of Economic Affairs, Taiwan's trade policy agency, aims to help domestic companies secure better tax rates through comprehensive guidance and litigation assistance. The ministry has urged local companies to actively respond to trade remedy investigations from various countries to safeguard their crucial export rights.
These defensive efforts are crucial as the U.S. International Trade Commission plans to release its final injury determination October (Oct. 9), which could cement the Commerce Department's duty orders if dumping is found to harm American industries. U.S. customs data revealed that Taiwan exported 157,377 metric tons of corrosion-resistant steel products to America in 2023, valued at US$195 million (around NT$5.95 billion). These specialized products primarily serve as essential materials in construction projects, appliance casings, and automotive components. ◼ (At time of reporting, US$1 equals approximately NT$30.518)