Thai government backs domestic steel industry

BANGKOK, June 1 (TNA) - The Thai government, through the Ministry of Commerce, is seeking ways to assist the domestic steel industry from impacts of a recent move by Washington to impose a high import tariff on steel products, including those from Thailand. Adul Chotinisakorn (อดุลย์ โชตินิสากรณ์), Director-General of the ministry's Department of Foreign Trade, told journalists on Friday that his department has followed up the updated situation closely, after the Office of the United States Trade Representative (USTR) has imposed higher tariffs on imported steel and aluminum products, 25 per cent and 10 per cent respectively, from trading partners since late March 2018, as the domestic steel industry, in particular, may be negatively affected by the new US measure. Adul said his department has also held meetings with domestic steel industrialists and exporters to discuss possible negative impacts from the new US measure and an agreed solution to the issue. Adul revealed that in response to the outcome of the meetings, his department is backing Thai steel exporters to contact with US steel importers, their clients, to submit a letter to the US Department of Commerce in Washington, seeking an exemption for the stiff import tariff on shipments of Thai steel products. Besides, his department has sent a letter to the USTR Office, seeking for its approval of a tariff waiver on imports of Thai steel products, with a decision on the Thai request by the USTR Office expected to be officially announced soon. The senior official acknowledged his department is exploring every possible way to assist the Thai steel industry, including monitoring a feared dumping in the Thai economy, instead, of imported steel products from other countries that have been affected by the new US measure. According to the senior official, no irregularity has been detected so far, as Thailand's imports of steel products in the first quarter of this year, before the new US import tariff was imposed, and in April, one month after the new US measure was launched, were seen no significant difference, standing at over 1.2 million tons monthly. The senior Thai official announced, however, that Thai steel industrialists or exporters who find any suspected dumping of imported steel products on the Thai economy can report to his department for an anti-dumping action if a probe on the case shows any grounded irregularity. Washington has imposed the 25 per cent-tariff on steel imports and the 10% tariff on aluminum imports since March 23, 2018, based on the section 232 of the US Trade Expansion Act 1962, aimed to protect the domestic industries. However, the US government has opened a door for some allied economies to negotiate "alternative means” to address the alleged threat to the United States' national security caused by what was considered a high level of imported steel and aluminum products. (TNA)