Japan and South Korea have initiated anti-dumping measures targeting Chinese steel imports due to concerns over the impact of cheaper commodities.

Japan’s Actions

Japan’s Ministry of Economy, Trade and Industry aims to expand anti-dumping duties to include Chinese steel and other products routed through third countries. The Japanese trade agency plans to approach the Ministry of Finance to request tariff revisions by the end of the month.

South Korea’s Investigation

South Korea has launched an anti-dumping investigation into imports of stainless steel plates from China. Officials reported allegations that Chinese products were sold below market value.

Context of Global Concerns

These actions follow similar moves by the U.S. and South American countries, which have raised tariffs on Chinese steel. China’s steel production has decreased by over 3% in early 2024, yet the slowdown has resulted in increased steel exports, rising more than 20% in the same period.