Govt applies safeguard duty imposed on flat iron, steel
Tuesday, August 5 2014 - 01:45 AM WIB
The Ministry of Trade said in a statement obtained on Tuesday that the safeguard duty is valid for three years, from July 22 this year to July 21 in 2017.
In the first year, the products will be levied Rp 4.99 million (about US$424) per ton, while Rp 4.31 million and Rp 3.63 million? will be charged in the second and third years, respectively.
The measure has been taken following investigation which discovered the links between an influx of imported products and losses suffered by the domestic industry, according to Indonesian Trade Security Committee (KPPI) chairwoman Ernawati.
The KPPI began the, investigation into the case on Dec. 18, 2012, based on complaints by PT BlueScope Steel Indonesia and PT Sunrise Steel, which claimed serious injury in their businesses driven by a jump in imports.
The result of the probe showed absolute rises in the import volume of the products between 2008 and 2012, averaging 42 percent each year from 79.279 tons in 2008 to 251.315 tons in 2012.
Editing by Reiner Simanjuntak