Chile steel plant reopens as tariffs imposed on Chinese imports [Video]

Chile’s biggest steel plant has resumed activities after the government imposed a temporary tariff on Chinese imports.

The Huachipato plant, which provides 2,700 direct jobs and some 20,000 indirect ones, announced a month ago it was winding down, unable to compete with Chinese steel that sells for about 40 percent cheaper in the South American country.

The company had asked Chile’s CNDP anti-price distortion commission to recommend the government impose a 25 percent tariff on imported steel.

The commission in a recent ruling found “sufficient evidence to support the existence of dumping” — the selling of Chinese steel below cost.

Then on Saturday, Chile’s finance ministry imposed a temporary tariff ranging from 25 percent to 34 percent on Chinese steel imports.

The measure, which appeared to fly in the face of a free trade agreement between Chile and China, was authorized by the CNDP.

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