The Taiwan Finance Ministry will levy anti-dumping duties on China-made beer and hot-rolled steel for months beginning July 3, according to a Friday news release.
Taiwan will impose as high as 64.14% duties on beer from mainland China and as low as 13.13% on Kirin (TYO:2503)-branded beers, and 33.85% duties on beer made by Budweiser (HKG:1876) in the mainland.
Baoshan Iron & Steel (SHA:600019), Shanghai Meishan Iron and Steel, and Baosteel Zhanjiang Iron & Steel will face duties of 16.90% while other steel brands will be levied 20.15% in taxes, the ministry said.
The products have "caused substantial damage to domestic industries," the ministry said, adding the duties need to be imposed to "prevent our country's industries from continuing to suffer damage during the investigation period."
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