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Economic Times
4 hours ago
- Business
- Economic Times
Taiwan slaps anti-dumping duties on Chinese beer and steel to shield local industry
Taiwan's Ministry of Finance will impose anti-dumping duties on beer and hot-rolled steel from China for four months, starting next Thursday. This decision follows investigations that found these products were being dumped, causing substantial damage to Taiwan's domestic industry. Tariffs on Chinese beer will range from 13.13% to 64.14%, while steel tariffs will be either 16.9% or 20.15%. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Ministry of Finance announced that it will impose anti-dumping duties on beer and hot-rolled steel produced in China for four months starting next Thursday, citing "substantial damage" to Taiwan's industry, as reported by the Taipei to a statement from the finance ministry, both it and the Ministry of Economic Affairs "have tentatively concluded that these products are being dumped and that it has inflicted significant harm on the domestic industry." The finance ministry mentioned that the duties would be applied for four months to "protect our industry from ongoing damage during the investigation," as noted by the Taipei tariffs on Chinese beer will vary from 13.13 per cent to 64.14 per cent, while those for steel will be either 16.9 per cent or 20.15 per cent, the report indicated. In March, the finance ministry initiated anti-dumping investigations into Chinese beer and selected steel products following allegations of unfair currently has anti-dumping duties on ten products, with eight coming from China, its largest trading partner, according to official statistics. The ministry is also assessing whether the low prices of certain Chinese hot-rolled steel products, attributed to "long-standing overcapacity" in production, are negatively impacting domestic businesses, the finance ministry has emerged as the largest export market for Chinese beer brewers, who captured over 70 per cent of the local beer market in the first quarter of this year, according to DPP Legislator Hsu Fu-kuei. In the last five years, Chinese beer exporters have shipped over NT$16 billion (US$548.32 million) worth of products to Taiwan, according to suppliers have harmed local beer producers, and the outcome could be severe if the government fails to implement anti-dumping measures, he cautioned. DPP Legislator Chung Chia-pin reported that local beer firms have experienced a 20 per cent drop in market share, with a 15 per cent decrease in production, leading to a utilisation decline of about 30 per cent. He suggested that this indicates significantly adverse effects on the local beer companies' operations due to Chinese beer 70 per cent of the Taiwanese population reportedly backs the government's decision to impose anti-dumping taxes on Chinese beer manufacturers to maintain market order, as stated by DPP Legislator Kuo Kuo-wen, referencing an unnamed public opinion poll, as cited by the Taipei Times report.
Time of India
5 hours ago
- Business
- Time of India
Taiwan slaps anti-dumping duties on Chinese beer and steel to shield local industry
The Ministry of Finance announced that it will impose anti-dumping duties on beer and hot-rolled steel produced in China for four months starting next Thursday, citing "substantial damage" to Taiwan's industry, as reported by the Taipei Times. According to a statement from the finance ministry, both it and the Ministry of Economic Affairs "have tentatively concluded that these products are being dumped and that it has inflicted significant harm on the domestic industry." The finance ministry mentioned that the duties would be applied for four months to "protect our industry from ongoing damage during the investigation," as noted by the Taipei Times. The tariffs on Chinese beer will vary from 13.13 per cent to 64.14 per cent, while those for steel will be either 16.9 per cent or 20.15 per cent, the report indicated. In March, the finance ministry initiated anti-dumping investigations into Chinese beer and selected steel products following allegations of unfair competition. Taiwan currently has anti-dumping duties on ten products, with eight coming from China, its largest trading partner, according to official statistics. The ministry is also assessing whether the low prices of certain Chinese hot-rolled steel products, attributed to "long-standing overcapacity" in production, are negatively impacting domestic businesses, the finance ministry stated. Taiwan has emerged as the largest export market for Chinese beer brewers, who captured over 70 per cent of the local beer market in the first quarter of this year, according to DPP Legislator Hsu Fu-kuei. In the last five years, Chinese beer exporters have shipped over NT$16 billion (US$548.32 million) worth of products to Taiwan, according to Hsu. Live Events Chinese suppliers have harmed local beer producers, and the outcome could be severe if the government fails to implement anti-dumping measures, he cautioned. DPP Legislator Chung Chia-pin reported that local beer firms have experienced a 20 per cent drop in market share, with a 15 per cent decrease in production, leading to a utilisation decline of about 30 per cent. He suggested that this indicates significantly adverse effects on the local beer companies' operations due to Chinese beer suppliers. Approximately 70 per cent of the Taiwanese population reportedly backs the government's decision to impose anti-dumping taxes on Chinese beer manufacturers to maintain market order, as stated by DPP Legislator Kuo Kuo-wen, referencing an unnamed public opinion poll, as cited by the Taipei Times report.
The Star
8 hours ago
- Business
- The Star
UK authorities join forfeiture bid on Daim's assets
PUTRAJAYA: Steps to forfeit assets belonging to the late finance minister Tun Daim Zainuddin, his family and proxies in the United Kingdom have begun, says the Malaysian Anti-Corruption Commission (MACC). Chief commissioner Tan Sri Azam Baki said the agency had also filed applications for the forfeiture of Ilham Tower yesterday. 'On June 5, we have filed for a restraining order on assets in UK worth RM700mil. We have informed the authorities in the UK and yesterday they informed us they have filed the same to their courts. 'This is a new development where the UK authorities agree with our request in Malaysia and the process will be continued at their courts,' he said this at a press conference here yesterday. 'On the defendant's side they have filed for an intervention and the courts have set July 9 for it. This is for case management and the restraining order application remains. Meanwhile on the forfeiture proceedings of Ilham Tower, he said, it would not be an easy process. 'There is a lot to be done and the documents involved are also quite thick,' he said. Media reports on June 3 stated that three luxury homes in London were among the seven properties and one bank account said to belong to Na'imah and her family, involving a total value of UK£132mil (RM758.2mil), which were frozen by the MACC. MACC investigations found that the movable and immovable assets were linked to alleged offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001. Ilham Tower, owned by Daim's family, was first seized by MACC in December 2023 in its anti-money laundering probe involving a corporate transaction of RM2.3bil (US$500mil) in November 1997 involving public-listed Renong Bhd and United Engineers Malaysia Bhd (UEM), both linked to Umno. In an unrelated matter, Azam said that there was no decision made yet on any criminal charges on former prime minister Datuk Seri Ismail Sabri Yaakob. 'All investigation papers have been forwarded to the DPP and we have been told that they have agreed to file for the asset forfeiture on the monies seized, worth around RM170mil, in the coming two weeks. It is up to him to challenge our application. 'Regarding criminal charges, we are awaiting the DPP's decision. I do not know when they will be but I believe a decision will be made within a month,' he said. He added that on their end investigations have been deemed completed. When asked on the role of Ismail Sabri's former son-in-law Datuk Jovian Mandagie in the investigation, he said that he is a witness. On March 3, Azam had disclosed that Ismail Sabri is a suspect in an ongoing corruption and money laundering investigation following the discovery of approximately RM170mil in cash at a safe house during a raid. The cash, held in numerous currencies such as baht, riyal, pound sterling, won, euro, Swiss franc and yuan, was seized alongside 16kg of pure gold bars valued at nearly RM7mil. Additionally, 13 bank accounts containing over RM2mil have been frozen as part of the probe. The investigation focuses on funding sources and expenditures related to promotional and publicity activities during Ismail Sabri's tenure.
South China Morning Post
12 hours ago
- Politics
- South China Morning Post
Why Israel's spy tactics against Iran have sparked fears in Taiwan
Israel's sweeping intelligence operations against Iran have jolted Taiwan's security community, raising concerns that Beijing could adopt similar tactics to cripple the island's leadership or critical infrastructure. As assassinations and sabotage rattle Tehran, analysts in Taipei warn that Beijing's infiltration of Taiwan is no longer a purely political threat, and it might be laying the groundwork for high-stakes covert warfare. In recent months, Taiwan has seen a surge in espionage cases implicating not only retired and active-duty military personnel, but also aides to senior government officials and lawmakers from the ruling Democratic Progressive Party (DPP). The breadth and depth of these cases have sparked concerns that Beijing's intelligence network has already penetrated the island's political and defence systems. 'What Israel has done to Iran – through a combination of precision, infiltration, and intelligence dominance – is something Beijing could try to replicate,' said Max Lo, executive director of the Taiwan International Strategic Study Society. 'The difference is, this time Taiwan may be the one under the microscope.' According to experts, Taiwan's vulnerabilities lie not only in its geographic proximity to mainland China but also in decades of cross-strait social and cultural exchange, which have enabled mainland Chinese intelligence operatives to blend in and recruit more easily.
Sunday World
17 hours ago
- Sunday World
Air passenger ‘helped woman and son illegally immigrate to Ireland', court told
Rita Marouani (53) initially denied that she knew the pair when she went to a different immigration booth at Dublin Airport, but their boarding passes and fake passports were found on her, a court heard. An air passenger who allegedly helped a woman and her son to illegally immigrate to Ireland, where they then sought asylum, is facing trial for people-smuggling. Rita Marouani (53) initially denied that she knew the pair when she went to a different immigration booth at Dublin Airport, but their boarding passes and fake passports were found on her, a court heard. Judge Monika Leech ruled the case was too serious to be dealt with at Dublin District Court and adjourned it for further DPP directions. Ms Marouani, a mother of one and carer with an address in Germany, is charged with assisting the illegal entry of people into the State and possession of false documents. Dublin Airport. News in 90 Seconds - June 28th Garda Sergeant Derek Spain said the DPP consented to the case remaining in the District Court. Outlining the prosecution's case, he said a woman and her son arrived on an Aer Lingus flight from Germany on March 30 and entered the immigration hall. They presented at a booth with no documentation and claimed asylum. This woman denied knowing Ms Marouani who came off the same flight, approached a different booth and presented a German passport. The accused also denied having travelled with the other two passengers. However, it was alleged, she had boarding passes in their names and when further questioned, she produced four passports. Two were genuine Georgian passports and two were false Czech passports, the court heard. In interview, she said she was only helping the woman and her son because they were afraid to fly alone and she knew the woman's mother from Georgia. According to the prosecution, she alleged that the woman had placed the passports into her handbag without her knowledge. The accused denied getting any payment from the woman to assist her arriving in Ireland. The woman said she and her son had travelled here on the false Czech passports and paid €2,500 each for them to 'an unknown entity'. She stated she had got the passports in Georgia before travelling to Germany and when they arrived there, she handed all four passports to Ms Marouani but did not pay her any money. It was the two other people who benefited from the alleged offence and Ms Marouani 'didn't understand the gravity of the situation' and made a 'terrible decision'. The two were released but as they were not detained, they left and 'continued their journey' out of Ireland and into the UK.
