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Japan to slap anti-dumping duty on Chinese, Korean chemical
30/03/2016 12:00
TOKYO -- Japan is moving to impose a punitive tariff on imports of an industrial chemical from China and South Korea, accusing producers there of undercutting domestic rivals with unfairly low prices.
Potassium hydroxide, also known as caustic potash, is used to make alkaline batteries, soap and a variety of other products. An investigation by the Ministry of Economy, Trade and Industry found that South Korean producers of the chemical and their Chinese subsidiaries were selling it in Japan at prices 40-50% lower than in their own countries.
As a result, Japanese producers' sales have fallen by nearly a fifth. The ministry has recommended a so-called anti-dumping duty, which is expected to take effect as soon as next month. The tariff rate has not yet been decided.
A trade body including Asahi Glass had petitioned the ministry last April to take corrective action on the matter. Japanese producers shipped 15.2 billion yen ($134 million) worth of potassium hydroxide in 2014.
Japan currently imposes punitive tariffs on two goods, both industrial chemicals: battery ingredient electrolytic manganese dioxide from Spain, China and South Africa; and Chinese-made toluene diisocyanate, used in the production of polyurethane.
Potassium hydroxide, also known as caustic potash, is used to make alkaline batteries, soap and a variety of other products. An investigation by the Ministry of Economy, Trade and Industry found that South Korean producers of the chemical and their Chinese subsidiaries were selling it in Japan at prices 40-50% lower than in their own countries.
As a result, Japanese producers' sales have fallen by nearly a fifth. The ministry has recommended a so-called anti-dumping duty, which is expected to take effect as soon as next month. The tariff rate has not yet been decided.
A trade body including Asahi Glass had petitioned the ministry last April to take corrective action on the matter. Japanese producers shipped 15.2 billion yen ($134 million) worth of potassium hydroxide in 2014.
Japan currently imposes punitive tariffs on two goods, both industrial chemicals: battery ingredient electrolytic manganese dioxide from Spain, China and South Africa; and Chinese-made toluene diisocyanate, used in the production of polyurethane.
Source: Nikkei
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