Gov't mulls tariffs vs imported steel

MANILA, Philippines (Xinhua) - The Department of Trade and Industry (DTI) is mulling to impose preliminary safeguard measures to protect the local steel industry in the face of alleged unfair competition from imports, a senior official

Trade Undersecretary Adrian Cristobal said that the government initiated the process of preliminary investigation to determine if there is valid cause based on the complaint filed by a local steel manufacturing company.

"If we find out that there is enough evidence to invoke the safeguard measures, we will endorse the case to the Tariff Commission," he told reporters at the sidelines of an auto industry event Thursday night.

The Department is evaluating the difference between imported galvanized iron based on the landed cost and the local retail cost.

Cristobal noted that the investigation should satisfy at least one of the elements of safeguard measure before the governments imposes corrective procedures.

"The product should seek temporary protection in the face of import surge and that the imported product cause serious injury to the industry," he said.

Safeguard measure maybe imposed via imports quotas or a temporary increase in tariffs.