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If the Taiwan restrict the import of steel from China, it will seriously affect the normal trade order

- Apr 17, 2018 -

 If the Taiwan authorities restrict the import of steel from mainland China, it will seriously affect the normal trade order in East Asia

According to foreign media reports, the market rumors that Taiwan may consider banned the import of steel from mainland China, this may disrupt the trade order in Asia, stainless steel products will bear the brunt.

A Taiwanese trader said: "This ban is necessary so that Taiwan can negotiate with the United States to obtain the 232 import tariff exemption for Taiwan's exports to the United States."

Some industry insiders in the Asian region believe that once the ban is implemented, imported products that are consumed locally in Taiwan, or imported products that are processed in Taiwan before being exported to other regions will be affected.

At present, the official statement has not yet been announced, but sources in Taiwan say that government officials have already revealed this to them.

Workers at a stainless steel plant in China revealed: "Even if this is only a rumors, at present Taiwanese buyers will also suspend the ordering of products from China, because once the goods cannot smoothly enter Taiwan, it would be too dangerous."

Taiwanese traders said that the ban has a greater impact on stainless steel imports: "About 70% to 80% of Taiwan's imported stainless steel products come from mainland China."

According to China's customs data, last year China exported a total of 1.63 million tons of steel to Taiwan, of which 780,236 tons were stainless steel plates.

The ban has little effect on the imports of ordinary carbon steel from China. According to Taiwan’s Ministry of Finance, there are not many common carbon steel products imported from China by Taiwan.

In 2017, the amount of steel imported from Taiwan by the United States rose from 983,245 tons in 2016 to 1.12 million tons.