The Federal Government has announced reforms to its ‘anti-dumping’ system, to protect Australian industry against foreign companies ‘dumping’ below cost goods in the Australian market place which can be disastrous to local manufacturers. The reforms are aimed at improving the system’s responsiveness, efficiency and effectiveness, and reducing costs and complexity to local industry.
With the USA & Europe still in the doldrums excess manufacturing capacity especially out of China is potentially seeing product being sold at a price below “normal value”- this is usually the domestic price of the goods in the country of export. If this dumping causes or threatens to cause material injury to Australian industry Customs may impose an additional dumping duty on the imported product which will often make this imported product too expensive to import from the specific country indicated.
Previously the dumping action process was prohibitive & often by the time the process was complete the dumped product had caused significant damage the local industry & the offending product was moved into another overseas market to cause further damage in another destination. The current products subject to dumping can be found on the following link: http://www.adcommission.gov.au/measures/Pages/default.aspx