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Duties imposed by the EU, will cost the Russian entrepreneurs

16 August 2016

The European Union continues to impose anti-dumping and countervailing duties on various products. Russian steel is no exception. Despite the duties imposed by the Russian producers to lose annually about 300 million USD. That is the figure called the leading metallurgical companies of the country. Maybe the capital of Russia will have to retaliate. The situation considered Dmitry Smolin, who is an expert KPMG. Assign duties seriously hampers the activities of the Russian metallurgists. Perhaps metallurgists of Russia will have to find other export markets. Such actions may increase competition in the domestic market.

Experts foresee some difficulties. Russian companies will not be able easy enough to find new markets for products. Here it is worth considering the nature of the proceedings. Products offered by Russian mining and metal companies, and numerous other manufacturers. In Moscow began the discussion of responses. They offered to put on some steel products from the European Union. Experts say that the imposition of any duties can turn into a two-edged interaction.

The European Commission on its decision to retreat is not going to. Anti-dumping duties will affect not only the Russian cold-rolled and flat-rolled products. The duties will be imposed on Chinese products. To act duties will be for five years. The Commission defined the dimensions of anti-dumping tariffs. For Chinese products will be levied a fee from 19.7 to 22.1 percent. Russian producers imputed rates from 18.7 to 36.1%.

At the same time Chinese Ministry of Commerce did not get tired to show discontent. According to its representatives, the EU should not take advantage of the exceptional trade measures. China regrets the introduction of fees. This is followed by the call for the observance of the accepted international obligations.

The investigation regarding the dumping of the cost of Russian and Chinese products were launched in mid-may 2015. The lawsuit was filed by the European Association of metallurgists. Under the complaint was signed by a number of manufacturers. They represent 25% of the total production of the European Union. The provisional duties were set in mid-February 2016. The first solution involves the products imported to the EU over two months to the appointment of a provisional tax.

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