The EU will not cancel the duties on the import of metal fittings from South Korea and Malaysia

The European Union announced its intention to again introduce tariffs for metal fittings made in South Korea and Malaysia for another five years. The introduction of these measures may be necessary to protect European manufacturers of this type of product.

The EU stated that the amount of duties on the import of reinforcement for connecting pipes from these two Asian countries has not yet been determined, it is possible that it will be 75 percent of the base rate. These products are mainly used in chemical, energy, construction and shipbuilding industries. At the same time, the EU emphasizes that the anti -dumping practice of introducing import duties is primarily aimed at holding a profitable market price for products in Europe.

The current situation will be discussed at the meeting of the European Commission in the presence of representatives of 28 European countries. The main issue of the meeting will be to study the impact of imports from Asian countries on the European market. Anti -dumping measures in relation to South Korea and Malaysia were supposed to end this week, however, about 15 months can take the study of this issue, so during this time the duty is to continue its effect.

The issue of extending the validity of the duties was considered after the appeal of a group of European companies that produce more than a quarter of the reinforcement to connect pipes from the total market of the EU countries. To date, the size of the fee for the import of fittings from South Korea is 44 percent, for the production of Malaysia production this indicator can reach 75 percent.