The Chilean price distortion commission, CNDP, has concluded a safeguarding investigation over the imports of wire rod and has recommended an ad valorem tariff of 38.9 percent over the external purchases of the product.
CNDP recommended the 38.9 percent ad valorem imports tariff to be applied provisionally for a period of six months. In a meeting held earlier in April, three-quarters of the members of the commission have recommended the ad valorem, provisional duty, which is yet to be applied.
CNDP suggested the provisional duty to be applied to the following products, which fall under the current Customs Tariff Statistics Position Numbers: 7213.2000, 7213.9110, 7213.9120, 7213.9190, 7227.1000, 7227.2000 and 7227.9000.
A local union said the recommendation is a “good start,” but said the needed tariff could be around 70 percent. Chilean steel producer CAP has welcomed the recommendation, which is not a final decision, and added these needed actions to protect the nation’s steel industry should continue.