Vietnam imposes anti-dumping duties on steel products imported from Malaysia

08/04/2021 12:00 - 33 total view

On the morning of April 7, the office of the Ministry of Industry and Trade (MoIT) informed that this agency had decided to apply temporary anti-dumping measures on some H-shaped steel products originating from Malaysia.

According to Decision No.1162/QD-BCT on the application of temporary anti-dumping measures on some H-shaped steel products originating from Malaysia, the temporary tax rate applied to Malaysian exporters is 10.2 percent.

The MoIT launched the investigation in August last year based on the appraisal results of the petition requesting the application of anti-dumping measures filed by representatives of the domestic manufacturing industry in July last year.

During the eight months of preliminary investigation in accordance with the Law on Foreign Trade Management and relevant regulations, as well as the Anti-Dumping Agreement of the World Trade Organization, the MoIT cooperated with related agencies to review and carefully assess the impact of dumping of imported goods on the activities of the domestic manufacturing industry, the level of dumping of Malaysian producers and exporters, as well as consider and calculate impacts on downstream manufacturing industries and consumers of H-shaped steel products.

The investigation results showed that imports of H-shaped steel from Malaysia increased sharply during the investigation period, significantly damaging the H-shaped steel manufacturing industry of Vietnam.

This dumping behavior continued to cause considerable pressure on the performance indicators of the domestic manufacturing industry, reflected in the criteria of production output, sales volume, revenue, profit, market share, and inventories which fluctuated heavily during the investigation period. These indicators all showed a clear downward trend.

In the coming time, to give a final conclusion about the case, the ministry will continue to work with relevant parties to identify products with special factors that need to be excluded and exempt, and at the same time, assess the comprehensive impact of the case on related parties, including the end consumers.

The case is expected to conclude in the second quarter of this year.
 
Source: SGGP News