imposing anti-dumping taxes on China and South Korea's plated steel
From April 1, Vietnam will impose a temporary anti-dumping tax of 15.67-37.13% on some Chinese and Korean plated steel products.
This information is stated in Decision 914 of the Ministry of Industry and Trade on applying temporary anti-dumping tax on some plated steel products (also known as plated iron and steel) from China and South Korea.
Accordingly, the highest temporary anti-dumping tax rate is applied at 37.13% for goods from China and 15.67% for products of Korean origin.
This is the second anti-dumping decision on steel products, calculated from the beginning of this year. The operator had previously imposed the same tax on hot-rolled coil from India and China on February 21, based on a lawsuit filed by Hoa Phat Group and Formosa.
The decision to impose the tax this time was made by the Ministry of Industry and Trade after the investigation of the case at the request of 5 companies including Hoa Sen Group, Nam Kim, Ton Phuong Nam, Ton Dong A and China Steel & Nippon Steel Vietnam.
The Ministry of Industry and Trade said that this investigation process was conducted according to the provisions of the Law on Foreign Trade Management. They have coordinated with relevant units to review and assess the impact of dumping of imported goods on domestic production. The discount level of Chinese and Korean manufacturing and exporting enterprises is also carefully considered.
According to customs data, in March, in March, the import volume was investigated in 12 months reached 454,000 tons, an increase of 91% over the same period last year. In particular, after the Ministry of Industry and Trade issued a decision to initiate the case in June, the amount of steel imported from China and South Korea still increased significantly. In the last 9 months of 2024, the amount of imported goods was approximately 382,000 tons, up 20% over the same period.
Therefore, the Ministry of Industry and Trade considers applying temporary anti-dumping measures. This is to prevent the rapid increase in import of plated steel that could cause serious damage to the domestic manufacturing industry in the coming time.
According to regulations, the operator continues to work with relevant parties to collect, verify information and make final conclusions. This will be based on a comprehensive impact assessment of the incident.
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