Vietnam to impose temporary anti-dumping duties on Chinese, RoK steel products

Thursday, 2019-06-20 13:47:11
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NDO – The Ministry of Industry and Trade (MOIT) has issued a decision to apply temporary anti-dumping measures on several colour coated steel products imported from China and the Republic of Korea (RoK).

The temporary anti-dumping tax rate imposed for Chinese steel products will range between 3.45 - 34.27% and for RoK steel products will be 4.48 – 19.25%.

The MOIT began the investigation into the alleged products in October 2018 based on the request of representatives from the domestic steel production sector in August 2018.

The investigation results revealed that despite the implementation of self-defense measures in the form of tariff quotas, the volume of imported goods in quotas shows signs of dumping with a rather high margin of 3.45% to 34.27%, which threatens to cause significant damages to the domestic colour coated steel industry.

Moreover, the aforementioned dumping acts continue to create considerable pressure on the performance indicators of the domestic manufacturing industry regarding production output, sales, revenue, profits, market share, and inventory, which saw many fluctuations during the investigation period.

Notably, in the seven-month period from late 2018 until now, these indicators have shown a downward trend in addition to many domestic manufacturers making losses, the suspended operations of a number of production lines and the unemployment of a large number of workers.

Meanwhile, some kinds of colour coated steel products that cannot be produced domestically will be exempted from the temporary anti-dumping measures.

The final conclusion on the case is scheduled to be announced in the fourth quarter of 2019.