Japan launches anti-dumping probe into stainless steel sheets from China, Taiwan
Japanese steelmakers say that they have been unable to set prices that reflect rising costs.
TOKYO - Japan has launched an anti-dumping investigation into nickel-based stainless cold-rolled steel sheets and strips imported from China and Taiwan, its trade and finance ministries said on July 22.
The move follows a petition filed on May 12 by Nippon Steel and other domestic manufacturers, who claim they have been forced to lower prices due to weakening domestic demand, as buyers have shifted to cheaper imports.
The Ministry of Economy, Trade and Industry and the Ministry of Finance plan to complete the investigation within a year and will then decide whether to impose anti-dumping duties.
According to the application submitted by the steelmakers, imported products were being sold in Japan at prices 20 per cent to 50 per cent lower than those in China and 3 per cent to 20 per cent lower than those in Taiwan.
The Japanese steelmakers claim that they have been unable to set prices that reflect rising costs, leading to a decline in operating profits and other damages.
Excess production and exports by Chinese steelmakers have become an international concern.
Japan is among a number of countries that have criticised Chinese companies for receiving government subsidies to produce excess steel and then exporting it at cheap prices, worsening global market conditions.
Top stories
Swipe. Select. Stay informed.
Singapore Singaporeans aged 21 to 59 can claim $600 SG60 vouchers from July 22
Singapore Miscalculation of MOH subsidies and grants led to $7m in overpayments, $2m in shortfalls
Singapore Singaporeans continue to hold world's most powerful passport
Asia Indonesia on high alert as dry weather fans forest, peatland fires in Sumatra
Singapore 2 charged over alleged role in posting bail for man who later absconded
Singapore Teen charged after allegedly selling vaporisers, advertising e-cigarettes on WhatsApp
Singapore 2,500 turtles seized in India and sent back to S'pore, put down humanely after salmonella detected
Singapore Ports and planes: The 2 Singapore firms helping to keep the world moving
While other countries have imposed anti-dumping measures or similar actions against China, Japan has yet to do so.
Chairman of the Japan Iron and Steel Federation Tadashi Imai, who is also president of Nippon Steel, has repeatedly warned that the global rise in protectionism could leave Japan vulnerable to inexpensive steel imports, hurting domestic production. REUTERS
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Straits Times
21 minutes ago
- Straits Times
UK's Starmer to convene cabinet meeting, most likely to discuss Gaza
Find out what's new on ST website and app. Britain's Prime Minister Keir Starmer speaks to Prime Minister Narendra Modi of India (not pictured) as they meet for bilateral talks at Chequers near Aylesbury, England, Thursday, July 24, 2025. Kin Cheung/Pool via REUTERS/File Photo LONDON - British Prime Minister Keir Starmer will convene a cabinet meeting next week, a government source said on Sunday, most likely to discuss the situation in Gaza after coming under growing pressure to recognise a Palestinian state. The Financial Times, which initially reported the story, said ministers, currently in a summer recess until September 1, would reconvene to discuss Gaza. Starmer's office did not immediately reply to a Reuters request for comment. The recall comes after Starmer said on Friday the British government would recognise a Palestinian state only as part of a negotiated peace deal, disappointing many in his Labour Party who want him to follow France in taking swifter action. President Emmanuel Macron said on Thursday France would recognise a Palestinian state, a plan that drew strong condemnation from Israel and the United States, after similar moves from Spain, Norway and Ireland last year. More than 220 members of parliament in the UK, mostly Labour members representing about a third of the House of Commons, wrote to Starmer on Friday urging him to recognise a Palestinian state. Successive British governments have said they will formally recognise a Palestinian state when the time is right, without setting a timetable or specifying the necessary conditions. Top stories Swipe. Select. Stay informed. Singapore Sewage shaft failure linked to sinkhole; PUB calling safety time-out on similar works islandwide Singapore Tanjong Katong Road sinkhole did not happen overnight: Experts Singapore Workers used nylon rope to rescue driver of car that fell into Tanjong Katong Road sinkhole Asia Singapore-only car washes will get business licences revoked, says Johor govt World Food airdropped into Gaza as Israel opens aid routes Sport Arsenal beat Newcastle in five-goal thriller to bring Singapore Festival of Football to a close Singapore Benchmark barrier: Six of her homeschooled kids had to retake the PSLE Asia S'porean trainee doctor in Melbourne arrested for allegedly filming colleagues in toilets since 2021 Starmer's approach has been complicated by the arrival in Scotland on Friday of U.S. President Donald Trump, with whom he has built warm relations. In foreign policy terms, Britain has rarely diverged from the United States. Israel has been facing growing international criticism, which Prime Minister Benjamin Netanyahu's government rejects, over the humanitarian crisis in Gaza. REUTERS

Straits Times
2 hours ago
- Straits Times
US, China to resume tariff talks in effort to extend truce by 90 days
Find out what's new on ST website and app. US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng will lead tariff talks on July 28, in Stockholm. STOCKHOLM – Senior US and Chinese negotiators will meet in Stockholm on July 28 to tackle longstanding economic disputes at the centre of the countries' trade war, aiming to extend a truce keeping sharply higher tariffs at bay. The South China Morning Post reported on July 27 that the two sides are expected to agree to extend the truce by three more months. China is facing an Aug 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached a preliminary deal in June to end weeks of escalating tit-for-tat tariffs. Without an agreement, global supply chains could face renewed turmoil from duties exceeding 100 per cent. The Stockholm talks, led by US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng, take place a day after European Union chief Ursula von der Leyen meets Mr Trump at his golf course in Scotland to try to clinch a deal that would likely see a 15 per cent baseline tariff on most EU goods. Trade analysts on both sides of the Pacific say the discussions in the Swedish capital are unlikely to produce any breakthroughs but could prevent further escalation and help create conditions for Mr Trump and Chinese President Xi Jinping to meet later in 2025. Previous US-China trade talks in Geneva and London in May and June focused on bringing US and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia H20 AI chips and other goods halted by the United States. Top stories Swipe. Select. Stay informed. Singapore Sewage shaft failure linked to sinkhole; PUB calling safety time-out on similar works islandwide Singapore Tanjong Katong Road sinkhole did not happen overnight: Experts Singapore Workers used nylon rope to rescue driver of car that fell into Tanjong Katong Road sinkhole Asia Singapore-only car washes will get business licences revoked, says Johor govt World Food airdropped into Gaza as Israel opens aid routes Sport Arsenal beat Newcastle in five-goal thriller to bring Singapore Festival of Football to a close Singapore Benchmark barrier: Six of her homeschooled kids had to retake the PSLE Asia S'porean trainee doctor in Melbourne arrested for allegedly filming colleagues in toilets since 2021 So far, the talks have not delved into broader economic issues. These include US complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that US national security export controls on tech goods seek to stunt Chinese growth. 'Stockholm will be the first meaningful round of US-China trade talks,' said Mr Bo Zhengyuan, Shanghai-based partner at China consultancy firm Plenum. Deals, deals, deals Mr Trump has been successful in pressuring some other trading partners, including Japan, Vietnam and the Philippines , into deals accepting higher US tariffs of 15 to 20 per cent. He said there was a 50-50 chance that the US and the 27-member European Union could also reach a framework trade pact, adding that Brussels wanted to 'make a deal very badly'. Two of Mr Trump's top trade officials, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer, will attend the Scotland talks and then travel to Stockholm. Analysts say the US-China negotiations are far more complex and will require more time. China's grip on the global market for rare earth minerals and magnets, used in everything from military hardware to car windshield wiper motors, has proved to be an effective leverage point on US industries. Trump-Xi meeting? In the background of the talks is speculation about a possible meeting between Mr Trump and Mr Xi in late October. Mr Trump has said he will decide soon whether to visit China in a landmark trip to address trade and security tensions. A new flare-up of tariffs and export controls would likely derail any plans for a meeting with Mr Xi. 'The Stockholm meeting is an opportunity to start laying the groundwork for a Trump visit to China,' said Ms Wendy Cutler, vice-president at the Asia Society Policy Institute. Mr Bessent has already said he wants to work out an extension of the Aug 12 deadline to prevent tariffs snapping back to 145 per cent on the US side and 125 per cent on the Chinese side. Still, China will likely request a reduction of multi-layered US tariffs totaling 55 per cent on most goods and further easing of US high-tech export controls, analysts said. Beijing has argued that such purchases would help reduce the US trade deficit with China, which reached US$295.5 billion (S$379 billion) in 2024. China is currently facing a 20 per cent tariff related to the US fentanyl crisis, a 10 per cent reciprocal tariff, and 25 per cent duties on most industrial goods imposed during Mr Trump's first term. Mr Bessent has also said he would discuss with Mr He the need for China to rebalance its economy away from exports toward domestic consumer demand. The shift would require China to put an end to a protracted property crisis and boost social safety nets to encourage household spending. Mr Michael Froman, a former US trade representative during former president Barack Obama's administration, said such a shift has been a goal of US policymakers for two decades. 'Can we effectively use tariffs to get China to fundamentally change their economic strategy? That remains to be seen,' said Mr Froman, now president of the Council on Foreign Relations think-tank. REUTERS

Straits Times
3 hours ago
- Straits Times
US says tariff deadline of Aug 1 is firm, no extensions
Find out what's new on ST website and app. US Commerce Secretary Howard Lutnick says the US will no longer offer grace periods after Aug 1. WASHINGTON – The US deadline of Aug 1 for imposing tariffs on its trading partners is firm and there will be no extensions, Commerce Secretary Howard Lutnick said on July 27. 'So, no extensions, no more grace periods. Aug 1, the tariffs are set. They'll go into place. Customs will start collecting the money, and off we go,' Mr Lutnick told Fox News on Sunday. After the levies kick in, President Donald Trump – who was negotiating on July 27 in Scotland with European Union officials – is still willing to keep talking, Mr Lutnick said. Of the Europeans, he said, 'you know they're hoping they make a deal, and it's up to President Trump, who's the leader of this negotiating table. We set the table'. So far, five countries have struck deals with the Trump administration ahead of the Aug 1 deadline as it tries to overhaul the global system of largely free trade by slapping tariffs on countries that the United States deems as engaging in unfair practices. These five are Britain, Vietnam, Indonesia, the Philippines and Japan. The levies they accepted are often higher than the new base rate of 10 per cent that the US has applied to most countries since April. Top stories Swipe. Select. Stay informed. Singapore Tanjong Katong Road sinkhole did not happen overnight: Experts Singapore Workers used nylon rope to rescue driver of car that fell into Tanjong Katong Road sinkhole Singapore Car that fell into Tanjong Katong Road South sinkhole removed; road remains closed for repairs Asia Singapore-only car washes will get business licences revoked, says Johor govt Sport Arsenal beat Newcastle in five-goal thriller to bring Singapore Festival of Football to a close Singapore Benchmark barrier: Six of her homeschooled kids had to retake the PSLE Singapore Younger generation must inherit and strengthen Singapore's multiculturalism: David Neo Asia S'porean trainee doctor in Melbourne arrested for allegedly filming colleagues in toilets since 2021 But they are far below the levels the Trump administration threatened to impose if no deal were reached. AFP