[blockbuster] the United States abolishes the import tax rate on stainless steel in Indonesia

SMM News: Indonesian alloy steel products, also known as stainless steel, will eventually be free to enter the United States without levying import duties. However, the exemption from import duties on the alloy steel is only temporary and lasts only one year. The good news came from two letters from the U.S. Security Service and the Industry Bureau (BIS) to Indonesia's Ministry of Trade.

Because, the domestic steel industry products in the United States can not meet the existing demand, including the quality of the market needs. In addition, in their letter, the United States Security Agency and the Bureau of Industry claimed that by abolishing the import tax rate on alloy steel products, they did not find factors affecting national security.

The United States has also provided Indonesia with a quota of 100 tons of steel imports. Purwono Widodo, chairman of the Indonesian Iron and Steel Association Cluster Plate products, praised the above US policy, although the exemption from the import tax rate on Indonesian alloy steel is only temporary. "of course, we also welcome the success of lobbying by the Government, especially the Minister of Trade."

According to SMM, Indonesia has a total of 200000 stainless steel, 60, 000 to Taiwan, 90, 000 to South Korea and Southeast Asia, and 50, 000 tons to China. Indonesia's Aoyama and U. S. companies signed an export agreement of 20, 000 to 30, 000 / month, with an annual export volume of around 300000. Later, exports were delayed because of the trade war, and now that the US tax rate is removed, the channels of exports to the United States will be unobstructed, meaning that the volume of exports to China will be reduced. China Q Company 3 series production capacity is surplus, August 3 series output of about 320000, its maximum capacity can reach 350000.