Japan Launches Anti-Dumping Probe Targeting Steel Products from China, South Korea, and Taiwan

Japan's Ministry of Economy, Trade and Industry and the Ministry of Finance announced today that they have launched an investigation into hot-rolled and cold-rolled steel sheets and strips produced in South Korea, China, and Taiwan, citing concerns that they may be sold in Japan at 'unfairly low prices.' A decision on whether to impose additional tariffs will be made based on the investigation's findings. According to the Nikkei, Japanese steelmakers Nippon Steel, JFE Steel, and Kobe Steel argued that products from these three regions are being sold at unfairly low prices, harming Japan's domestic industry. They submitted an application to the Japanese Minister of Finance in February this year, requesting an increase in tariffs on the relevant products. The Japanese government will now require domestic and foreign companies from South Korea, China, and Taiwan, as well as importers and other relevant parties, to submit data. They will investigate whether dumping has occurred or if it has caused damage to Japan's domestic industry before deciding whether to raise tariffs. The investigation is expected to take up to one year. Hot-rolled steel sheets are mainly used in automobiles, construction materials, and conduits, while cold-rolled steel sheets are widely used in automotive parts and home appliances. Most of these two types of products in Japan are sourced from South Korea, China, and Taiwan.