New Countervailing Duty Alert: Copper Wire Rod Imports from 4 Countries
The Government of India has officially extended the Countervailing Duty (CVD) on Continuous Cast Copper Wire Rods imported from Indonesia, Malaysia, Thailand, and Vietnam. This action follows a detailed investigation by the Directorate General of Trade Remedies (DGTR), which concluded that withdrawing the duty could hurt India’s domestic industry due to continued subsidization by exporting countries.
What Are the Goods Covered?
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Product: Continuous Cast Copper Wire Rods (including copper wires above and below 6mm, but only in coil form)
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Customs Tariff Heading: 7408
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Countries Impacted:
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Indonesia
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Malaysia
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Thailand
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Vietnam
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What’s the Final Decision?
This move aims to:
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Protect Indian manufacturers from unfair pricing
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Neutralize the effect of foreign government subsidies on copper products
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Maintain fair trade in the Indian market
Key Duty Rates (Based on Producers and Countries):
S. No Country Producer Duty as % of Landed Value 1 Indonesia PT Karya Sumiden Indonesia 4.98% 2 Indonesia PT Tembaga Mulia Semanan Tbk 3.75% 3 Indonesia Others 7.94% 5 Malaysia Metrod Malaysia Sdn Bhd Nil 6 Malaysia Others 10.27% 8 Thailand SEI Thai Electric Conductor Co., Ltd. Nil 9 Thailand Others 3.46% 11 Vietnam Any 7.13%
Additional duties apply when these goods are exported indirectly via third countries.)
Important Notes:
Landed Value: Includes customs assessable value plus all other duties except for those under Sections 3, 3A, 8B, 9, and 9A.
Exchange Rate: Based on the rate notified under Section 14 of the Customs Act on the date the Bill of Entry is presented.
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???? What This Means for Importers and Traders:
You’ll need to factor in this duty while planning your imports and costing structures.
Keep an eye on customs notifications for any changes in exchange rates or future amendments.