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View all search resultsGovt hails WTO ruling for Indonesia in steel dispute with EU
In its ruling published on Oct. 2, the WTO has ruled in favor of Indonesia in its stainless steel dispute with the EU after finding that Brussels's countervailing measures were inconsistent with the trade body's SCM Agreement.
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A river flows past a nickel smelter belonging to PT Virtue Dragon Nickel Industry and PT Obsidian Stainless Steel on Feb. 8, 2024, at the Morosi Industrial Estate in Konawe regency, Southeast Sulawesi. (Antara/Jojon)
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ndonesia has welcomed the World Trade Organization ruling in its favor in a dispute with the European Union over countervailing duties on the country’s stainless steel imports, calling the decision a key victory for local exporters.
The ruling, published on Thursday, faulted the way Brussels calculated subsidies, finding that the European Commission “acted inconsistently” regarding certain provisions of the WTO Agreement on Subsidies and Countervailing Measures (SCM Agreement), which regulates government subsidies and countries’ permitted responses.
The global trade body urged the EU to modify its tariffs on stainless steel products from Indonesia after determining that it had made mistakes in setting its measures.
Trade Minister Budi Santoso said the decision was “a significant achievement in defending Indonesia’s export interests” and a positive signal for the continuity of its stainless steel trade with the EU.
“The WTO decision proves that the EU’s accusations were unfounded. The government will ensure this ruling is adopted quickly, so Indonesia’s access to the EU market can expand further,” he said in a statement on Friday.
“We urge the EU to respect the ruling of the WTO panel and promptly remove countervailing duties that are inconsistent with the rules.”
Read also: China to keep antidumping steel duties on Indonesia, EU and South Korea
