Hey everyone! In a major move impacting global trade, China’s Ministry of Commerce has extended anti-dumping duties on stainless steel imports for another five years starting Tuesday. These duties are essentially a way to keep the market fair by preventing products from being sold at unfairly low prices. 🔥
The updated measures now apply to imports from the EU, the United Kingdom, the Republic of Korea, and Indonesia – with rates ranging from 18.1% to 103.1%. Previously, since July 23, 2019, similar duties were imposed on products from the EU, Japan, the Republic of Korea, and Indonesia.
While trade policy might seem like distant business talk, it directly affects everything from the cost of your gadgets to everyday construction materials. For young professionals and tech enthusiasts in South and Southeast Asia, these shifts in global trade can influence supply chains and even everyday prices. 💼🌏
Keep an eye out for more updates as the global market adapts to these changes and new trends emerge in tech and commerce!
Reference(s):
China extends anti-dumping duties on stainless steel imports
cgtn.com
