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India initiates review of anti-dumping duty on Chinese steel wheel imports
Context:
- India has initiated a review of the anti-dumping duty on flat base steel wheels from China.
Background:
- India had in 2013 imposed duty up to $613 per tonne on import of the product from China for five years.
- As per the World Trade Organisation, if a company exports a product at a price lower than the price it normally charges on its own home market, it is said to be “dumping” the product.
The review investigation:
- The Directorate General of Anti-dumping and allied Duties (DGAD) has initiated the review investigation.
- The move comes in the backdrop of India’s huge trade deficit with China ($51.1 billion in FY’17).
- The Authority (DGAD) has considered the period of October, 2016 to September, 2017 as the period of investigation.
- It seeks to examine whether the expiry of such duty is likely to lead to continuation or recurrence of dumping and injury to the domestic (Indian) industry.
