EC Opens CVD Probe on CR Stainless Steel from India & Indonesia
The European Commission announced on 17 February 2021 that it will initiate a countervailing duty investigation against certain stainless steel cold rolled flat product imports from India and Indonesia. The investigation will cover the period between July 1, 2019 and June 30, 2020. The European Commission has received a complaint on 4 January 2021 from European Steel Association, on behalf of the Union industry of stainless steel cold-rolled flat products alleging that imports of stainless steel cold-rolled flat products originating in India and Indonesia are being subsidised and are thereby causing injury to the Union industry. The alleged subsidies practices consist of direct transfer of funds & potential direct transfers of funds or liabilities, government revenue forgone or not collected and government provision of goods or services for less than adequate remuneration.
The investigation shall, whenever possible, be concluded within 12 months and in any event no later than 13 months from the date of the publication of this Notice. All interested parties wishing to submit information on the product scope must do so within 10 days of the date of publication of this Notice.
The product subject to this investigation is flat-rolled products of stainless steel, not further worked than cold-rolled currently classified under CN codes 7219 31 00, 7219 32 10, 7219 32 90, 7219 33 10, 7219 33 90, 7219 34 10, 7219 34 90, 7219 35 10, 7219 35 90, 7219 90 20, 7219 90 80, 7220 20 21, 7220 20 29, 7220 20 41, 7220 20 49, 7220 20 81, 7220 20 89, 7220 90 20 and 7220 90 80.
India - The complaint referred, for example, to various grants, provision of loans and credit lines provided by State owned banks and other financial institutions at preferential terms, and provision of export credits by State-owned banks and other financial institutions, including of export promotion schemes using grants and preferential financing; income tax reductions and exemptions, duty exemption and/or remission schemes, import tariff rebates and VAT rebates; and government provision of land and inputs for less than adequate remuneration: government support via Governmental procurement policies: subsidies schemes for export oriented units, government support available via the economic zones and at various sub-federal levels
Indonesia - The complaint referred, for example, to various grants, provision of loans and provided by State-owned banks and other financial institutions at preferential terms, and provision of export credits by State-owned banks and other financial institutions; income tax reductions and exemptions, import duty and/or VAT rebates and/or exemptions; duty exemption and/or remission schemes; government provision of land and inputs for less than adequate remuneration. The complaint further alleges that the producers of the product under investigation also benefit from subsidies in the context of the cooperation between the Governments of Indonesia and of the People's Republic of China to support investments in a special economic zone, that is the Indonesia Morowali Industrial Park, in addition to the subsidies granted directly by the Government of Indonesia.