At a steel plant - Illustrative image (Source: VNA) Hanoi (VNA) – The Vietnam Steel Association (VSA) has asked the Ministry of Industry and Trade (MoIT)’s Department of Trade Defence to assist Vietnamese steel producers in anti-dumping (AD) investigations of corrosion-resistant steel (CORE) and cold rolled steels (CRS) launched by the US.
Accordingly, the association suggested that the ministry take measures to support steel businesses in opposing the US’s acts inconsistent with international law, and require the Department of Commerce (DOC) to obey the World Trade Organisation (WTO)’s regulations and the US’s laws.
If the US side doesn’t change its decision, the MoIT needs to propose the Government sue the US at the WTO, the VSA said.
The action aims to not only protect Vietnamese steel producers but also send a message to the US that Vietnam will continue to strongly struggle against violations of international commitments in trade defence investigations in the future, thus protecting legitimate interests of local steelmakers.
If the final determinations in the investigations are not changed, Vietnam’s steel industry will suffer heavy losses as the US extends AD and countervail (CV) duties on imports of CORE steel produced in Vietnam using Chinese-origin substrate at respective rates of 199.43 percent and 39.05 percent.
In 2016, US steelmakers succeeded in persuading the DOC to impose AD and CV duties on Chinese steel, which meant CRS from China would be subject to 265.79 percent AD and 256.44 percent CV duties when exported to the US.
DOC statistics showed that shipments of CORE from Vietnam to the US increased from 2 million USD to 80 million USD after preliminary duties were imposed on Chinese products in 2015.
Likewise, shipments of CRS from Vietnam to the US climbed from 9 million USD to 215 million USD after the duties were imposed.
The DOC is currently scheduled to announce its final determinations in these inquiries on February 16, 2018.
The case was initiated in September when US steel producers, including ArcelorMittal USA, Nucor Corp, AK Steel Holdings Corp and Steel Corp, filed lawsuits in which they claimed Chinese steel producers shipped products via Vietnam to evade tariffs.
In November 2017, the European Union’s anti-fraud office said it found Chinese steel was shipped through Vietnam to evade the bloc’s tariffs.-VNA
Likewise, shipments of CRS from Vietnam to the US climbed from 9 million USD to 215 million USD after the duties were imposed.
The DOC is currently scheduled to announce its final determinations in these inquiries on February 16, 2018.
The case was initiated in September when US steel producers, including ArcelorMittal USA, Nucor Corp, AK Steel Holdings Corp and Steel Corp, filed lawsuits in which they claimed Chinese steel producers shipped products via Vietnam to evade tariffs.
In November 2017, the European Union’s anti-fraud office said it found Chinese steel was shipped through Vietnam to evade the bloc’s tariffs.-VNA
VNA
