Vietnam removes anti-dumping duties on steel imports from China, S.Korea

The Ministry of Industry and Trade has decided to remove anti-dumping duties on coated steel imports from South Korea and China after five years of imposing the duty.

Rolls of steel sheets manufactured by a company in China. The Ministry of Industry and Trade has decided to remove anti-dumping duties on coated steel imports from South Korea and China – PHOTO: VNA

According to the ministry’s Trade Remedies Authority of Vietnam, the ministry launched an anti-dumping probe in June last year as stipulated by the Law on Foreign Trade Management and following requests from local steel manufacturers. The probe was conducted in line with the prevailing regulations of WTO, the Law on Foreign Trade Management and the relevant regulations.

The ministry collected information and feedback from the relevant parties, assessed the impacts of imported coated steel products on the local steel sector and the degree of dumping of South Korean and Chinese manufacturers and exporters.

The investigation results indicated that after five years of imposing this duty, the domestic steel production sector has no longer suffered as huge material injury as before, and the possibility that steel imports from South Korea and China further hurting domestic production is very small.

Following the investigation results and the prevailing regulations, the Industry and Trade Ministry has lifted the anti-dumping duty on coated steel imports from South Korea and China.

In the upcoming time, the ministry and other agencies will keep monitoring coated steel imports from abroad to timely take measures in accordance with international and Vietnamese laws to protect the interests of the domestic steel sector and consumers.

Source: Saigon Times