Hanoi (VNS/VNA) - The European Commission has imposed anti-dumping duties of 12.1% on hot-rolled steel imports from Vietnam, according to the Ministry of Industry and Trade.
The decision, however, exempts products made by Hoa Phat Group and its member companies while Formosa Ha Tinh will be subject to the 12.1% duty.
Besides Vietnam, the EU also levied duties on imports from major Japanese producers such as Nippon Steel Corporation, JFE Steel and Daido Steel with duties from 29.8% to 30%. A tariff of 11.7% was imposed on imports from Egypt.
The decision would weigh on the country’s steel industry which was making efforts to expand in the EU to take advantage of the EU – Vietnam Free Trade Agreement (EVFTA), the ministry said.
The investigation had been initiated from August 8, 2024 following filing by the European Steel Association.
The US has also initiated anti-dumping duties on cold-rolled steel imported from Vietnam and several other countries, covering the period from July 2024 to June 2025.
The decisions highlight the need for Vietnam’s steel industry to restructure, boost competitiveness and diversify export markets. /.
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