It was reported that the WTO announced on August 15th that it was illegal for Indonesia to levy taxes on galvalume products from Taiwan. This meant Indonesia must adjust its tariff strategy or face trade retaliation.
Taiwan, the previous second largest importer of relevant Indonesian steel products, has suffered a sharp decline in steel exports to Indonesia following Indonesian tax measures. From US$50.85 million worth of galvalume products in 2013 to almost zero in 2017, Taiwan has lost the market of the above-mentioned steel products in Indonesia.
