Business & Finance – Indonesia has sued the European Union at the World Trade Organization (WTO) regarding the imposition of anti-dumping duties (BMAD) on stainless steel. This lawsuit was filed in December 2023, and was a response to the European Union’s decision to impose anti-dumping duties of 24.5% on stainless steel imports from Indonesia.
Indonesia believes that the imposition of anti-dumping import duties is unfounded and contrary to WTO rules. Indonesia also believes that the anti-dumping import duties will harm the Indonesian steel industry and hinder Indonesia’s economic growth.
The European Union believes that the imposition of anti-dumping duties is necessary to protect the European Union steel industry from unfair competition. The European Union also believes that Indonesia has dumped stainless steel into the European Union market.
WTO panel hearings for this lawsuit are expected to begin in early 2024. The WTO panel decision is expected to be issued by the end of 2024.
The potential impact of this lawsuit on Indonesia is:
If Indonesia wins the lawsuit, the European Union must lift anti-dumping duties on stainless steel from Indonesia. This will increase Indonesia’s stainless steel exports to the European Union and encourage the growth of the Indonesian steel industry.
If Indonesia loses the lawsuit, the European Union will continue to impose anti-dumping duties on stainless steel from Indonesia. This will harm the Indonesian steel industry and hinder Indonesia\’s economic growth.
The potential impact of this lawsuit on the European Union is:
If Indonesia wins the lawsuit, the European Union will lose protection against competition from the Indonesian steel industry. This could lead to a decrease in steel production in the European Union and an increase in steel prices in the European Union.
If Indonesia loses the lawsuit, the European Union will maintain protection against competition from the Indonesian steel industry. This will protect the EU steel industry from unfair competition and help keep steel prices in the EU stable.***
