The European Commission (EC) has decided to initiate an investigation into imports of 26 steel products to its member countries (Photo: VNA) Hanoi (VNA) - TheEuropean Commission (EC) has decided to initiate a safeguard investigationconcerning imports of 26 steel products, including those from Vietnam, to itsmember countries.
The investigated productcategories include alloy hot rolled sheets and strips, organic coated steel,stainless cold rolled sheets and strips, and metallic coated sheets.
The Ministry of Industryand Trade said the safeguard investigation was being initiated, because theimports of certain steel products have increased sharply recently,necessitating safeguard measures.
According to EC, theinformation currently available with the commission indicates that the totalimports of the products increased from 17.8 million tonnes to 29.3 milliontonnes in the 2013-2017 period.
Similarly, imports of theproducts increased by some 65 percent between 2013 and 2016. The main increasestook place in 2015 and especially in 2016, when they reached 28.6 milliontonnes. The imports of the products have remained at a significant levelthereafter.
The commission also notedthat the total imports of the products increased in relative terms as well,from 7.3 percent to 11.6 percent, in terms of production, and from 12.2 percentto 17.6 percent, in terms of consumption.
In both instances, theincreases manifested themselves during the 2014-16 period, after which importsremained at a relatively high level. The increase in imports appear to be theresult of unforeseen developments, such as the global overcapacity in steelmaking and the trade measures adopted by a series of third-world countries inthe past years in the context of that global overcapacity.
The investigation willdetermine whether, as a result of the unforeseen developments, the productsconcerned are being imported into the union in such greatly increasedquantities and/or on such terms or conditions as to cause, or threaten tocause, serious injury to the union producers of like or directly competingproducts, the EC said.
The results of theinvestigation could lead to the imposition of a new tax or promulgation ofquota for exporting countries to protect EU steel producers against thepossible fierce competition from imported products.
The investigation will beimplemented within nine months. Temporary measures will be approved in ashort-term, if they are necessary.
The EU has imposed thegeneral system of preferences of zero percent for all steel products importedfrom Vietnam while applying anti-dumping tariffs on some steel products fromChina.-VNA
VNA
