Seoul, South Korea – During the recent South Korea-China Trade and Economy Ministerial Meeting, China voiced its concerns regarding South Korea’s trade remedy measures imposed on steel plates imported from China, according to South Korea’s Ministry of Trade, Industry and Energy (MOTIE).
A MOTIE official disclosed on March 30th that the Chinese delegation raised the issue during the bilateral meeting held on the sidelines of the trilateral South Korea-China-Japan Trade and Economy Ministerial Meeting.
The backdrop to this concern stems from a preliminary anti-dumping duty imposed by South Korea’s Trade Commission on February 20th. The commission decided to levy tariffs ranging from 27.91% to 38.02% on thick steel plates originating from China. Furthermore, the commission has initiated anti-dumping investigations into hot-rolled carbon steel plates and hot-rolled alloy steel plates originating from both China and Japan.
The MOTIE official explained that the trade ministers from both countries engaged in discussions on pre-coordinated agenda items, including the trade remedy measures taken by South Korea on Chinese steel plates. The Chinese side expressed its apprehension regarding these measures.
In response, South Korean Trade Minister Ahn Duk-geun assured the Chinese delegation that South Korea is conducting its investigations in a fair, transparent, and objective manner.
This development highlights the ongoing complexities in the trade relationship between South Korea and China, particularly in the steel sector. The outcome of the anti-dumping investigations and any potential further trade restrictions will be closely watched by both countries and the broader international trade community.
References:
- Yonhap News Agency. (2024, March 30). 韩政府：中方就韩涉自华进口钢板贸易措施表关切 [South Korean Government: China Expresses Concern Over South Korea’s Trade Restrictions on Steel Plates]. Retrieved from [Insert URL Here – if available online]
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