China and the Republic of Korea (South Korea) have finalized a price undertaking agreement to resolve an anti-dumping investigation into Chinese hot-rolled steel coils, marking a significant step toward reinforcing bilateral trade stability. The agreement, announced by China's Ministry of Commerce (MOFCOM) on February 24, 2026, replaces punitive tariffs with negotiated pricing terms, a solution praised for balancing industrial interests and regional economic cooperation.
MOFCOM's spokesperson emphasized that the resolution reflects the "deeply integrated industrial and supply chains" linking the two economies. By opting for a price undertaking over anti-dumping duties, both sides aim to maintain predictability in the steel trade—a critical sector for infrastructure and manufacturing across Asia.
The agreement arrives amid global economic uncertainties, with the spokesperson describing it as "positive energy" for international cooperation. Analysts note that the compromise underscores Beijing and Seoul's shared commitment to multilateral trade frameworks, even as other regions grapple with protectionist measures.
Beyond immediate economic benefits, the deal is seen as a diplomatic milestone. It follows months of technical negotiations and signals a pragmatic approach to resolving trade disputes, potentially setting a template for future cross-border collaborations in Asia.
