The Australian Steel Institute (ASI) has welcomed confirmation today (August 28) that responsibility for Safeguard actions, which protect Australian industry from sudden surges in imports, will move from the Productivity Commission to the Anti-Dumping Commission.
Commenting on the announcement by Federal Minister for Industry and Innovation Tim Ayres, Australian Steel Institute (ASI) chief executive Mark Cain said it provided much-needed clarity for how a Safeguard action is to be progressed in Australia.
"More importantly it brings the oversight of all trade measures in Australia into line with other comparable countries," Cain said.
"With our local steel industry currently in severe financial distress due to a surge in very low-priced imported fabricated steelwork, the streamlining and simplification of Safeguard investigations is an important step in protecting local jobs, and small business, and sustaining essential sovereign capabilities."
The ASI is currently in the final stages of readying an application for a Safeguard action, on behalf of the domestic steel industry.
The ASI is the peak body for the Australian steel industry, representing 700 companies and 7,000 members. Steel generates 100,000 jobs and $30b in annual revenue in Australia.
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