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DTI keeps safeguard measure on steel angle bar imports

/ 02:45 AM April 23, 2012

The Department of Trade and Industry (DTI) has extended the definitive safeguard measure on imported steel angle bars to give the local industry more time to implement its adjustment plans and complete efficiency measures.

In a statement, Trade Secretary Gregory L. Domingo said the DTI had “reviewed the findings and recommendations of the Tariff Commission and found it to be of public interest to extend the said measure.”

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The safeguard measure referred to the slapping of duties on imported steel angle bars amounting to P3,901.08 per metric ton for the first year of implementation, covering March 10, 2012, to March 11, 2013.

“The Tariff Commission recommended the extension to allow the domestic industry continue the implementation of its adjustment plans to compete with imports. The extension will also give industry players more time to complete their efficiency measures that will help them reduce their costs,” Domingo said.

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The safeguard measure will be reviewed yearly to determine if the duties were still needed.

Under the law, a safeguard measure may be imposed for a maximum of 10 years.

The World Trade Organization (WTO) Agreement on Safeguards also allows developing country-members like the Philippines to impose safeguard measures up to 10 years.

“Safeguards, when imposed, are progressively liberalized. They are meant to provide room for the local industry to positively adjust to competition and achieve global competitiveness over a fixed period of time,” noted Trade Undersecretary Adrian S. Cristobal Jr.

Steel angle bars are angle-shaped steel used for trusses, roof frames, steel frames and steel structures of billboards, transmission towers, and bridges.

End-users of this product are companies engaged in the construction of houses, condominiums, malls, and infrastructure projects.

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TAGS: Business, imports, Philippines, steel angle bars
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