Wooden products of Vietnam, including those for export, are at risk of facing trade remedy investigations in foreign countries and territories. (Photo: tapchicongthuong.vn) Specifically, MoIT’s Trade Remedies Authority will continue tomonitor and support domestic enterprises and manufacturing industries incompleting dossiers for trade remedy investigations for Vietnamese products inforeign markets.
It especially focuses on anti-evasion tax cases for productshaving high export turnovers such as wood, solar cells and steel, as thosecases have a large impact on domestic production and export, and highanti-evasion tax rates.
Besides that, the authority will complete a review of existingtrade remedies in the domestic market, including the final review ofanti-dumping measures for imported cold-rolled stainless steel products,colour-coated steel and aluminium profiles.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan hasrequested the Trade Remedies Authority step up the assessment of impacts anddamages from the trade remedy cases for each commodity.
The authority also needs to closely coordinate with relevant unitsin the ministry, as well as other ministries and branches such as the financeministry and the agriculture and rural development ministry in the process ofdealing with the trade remedy cases.
Meanwhile, Trinh Anh Tuan, Director of the Trade RemediesAuthority, said that countries tended to apply trade remedies for importedgoods, so Vietnamese exports would be at high risk of facing traderemedies abroad.
Global economic growth from now until the end of the year wouldslow down significantly due to the effects of the tightening monetary policy aswell as limited credit conditions. That had increased protectionism in manycountries.
According to Tuan, Vietnam's participation in free tradeagreements has gradually reduced tariff barriers, so many Vietnamese exportsare on a strong growth path, which means the export products face many tradedefence lawsuits.
Participation in regional supply chains also means the country isoften sued together with a number of other countries such as China and India.Those countries have large export turnover and are often subjects of tradelawsuits.
Tuan noted that the trade remedy investigation cases againstVietnamese products had been mainly anti-dumping and tax evasion in marketsthat regularly conduct trade remedy investigations such as the US, India, andAustralia.
Steel and yarn frequently faced trade remedy investigations.Recently, cases of investigation against tax evasion for Vietnamese productshad increased, especially in the US, he said.
According to MoIT, up to now, there have been 231 trade remedycases initiated by foreign countries and territories against Vietnameseexports, including 128 anti-dumping cases, 47 safeguard cases, 33 cases ofanti-circumvention of trade remedies and 23 anti-subsidy cases.
In the first six months of 2023, there were four trade remedycases against Vietnamese exports, slightly down from five cases in the sameperiod of 2022.
The ministry has reported that Vietnam's exports are at high riskof facing trade remedy investigations in foreign countries and territories,including steel, aluminium, copper, rubber, plastic, chemical, buildingmaterial and wooden products.
These products have experienced rapid growth in recent yearsbecause Vietnamese enterprises have competitive advantages in export markets.These factors make Vietnamese products easy to become subjects of trade remedyinvestigations./.
VNA
