Martin Bagya Kertiyasa, Jakarta – Indonesia welcomed a World Trade Organization (WTO) panel ruling in its favor over a dispute with the European Union (EU) concerning countervailing and anti-dumping duties on Indonesian stainless steel exports.

Trade Minister Budi Santoso said the ruling marked a significant victory for Indonesia's trade diplomacy, ensuring continued access for Indonesian stainless steel in European markets.

"This is a major achievement to safeguard our stainless steel exports in the EU and beyond. We urge the EU to respect the WTO decision and promptly confiscate the unfair countervailing duties," Budi said in Jakarta on Friday.

The EU first imposed anti-dumping tariffs of 10.2-20.2 percent on Indonesian stainless steel on November 17, 2021. The measures were later revised under EU Regulation 2022/433, effective March 15, 2022, with anti-dumping tariffs of 9.3-20.2 percent and countervailing duties of up to 21.4 percent. Indonesia filed a formal WTO complaint in February 2023.

Following the ruling, the WTO recommended that the EU adjust its trade measures by removing the countervailing duties on Indonesian stainless steel.

"The panel's decision confirms that the EU's allegations were unfounded. The government will ensure that this ruling is enforced so our stainless steel gains wider market access in Europe," Budi said.

Source: https://jakartaglobe.id/business/wto-ruling-hands-indonesia-victory-in-stainless-steel-tariff-disput