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 producersin 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 tosupport steel businesses in opposing the US’s acts inconsistent withinternational law, and require the Department of Commerce (DOC) to obey theWorld Trade Organisation (WTO)’s regulations and the US’s laws.
If the US side doesn’t change its decision, the MoIT needs to proposethe Government suethe US at the WTO, the VSA said.
The action aims to not only protect Vietnamese steel producers but also send amessage to the US that Vietnam will continue to strongly struggle against violationsof international commitments in trade defence investigations in the future,thus protecting legitimate interests of local steelmakers.
If the final determinations in the investigations are notchanged, 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 199.43percent and 39.05 percent.
In 2016, US steelmakers succeeded in persuading the DOC to impose AD andCV duties on Chinese steel, which meant CRS from China would be subject to265.79 percent AD and 256.44 percent CV duties when exported to the US.
DOCstatistics showed that shipments of CORE from Vietnam to the US increased from2 million USD to 80 million USD after preliminary duties were imposed onChinese products in 2015.
Likewise, shipments of CRS from Vietnam to theUS climbed from 9 million USD to 215 million USD after the duties were imposed.
The DOC is currently scheduled to announce itsfinal determinations in these inquiries on February 16, 2018.
The case was initiated in September when USsteel producers, including ArcelorMittal USA, Nucor Corp, AK Steel HoldingsCorp and Steel Corp, filed lawsuits in which they claimed Chinese steelproducers shipped products via Vietnam to evade tariffs.
In November 2017, the European Union’santi-fraud office said it found Chinese steel was shipped through Vietnam toevade the bloc’s tariffs.-VNA
Likewise, shipments of CRS from Vietnam to theUS climbed from 9 million USD to 215 million USD after the duties were imposed.
The DOC is currently scheduled to announce itsfinal determinations in these inquiries on February 16, 2018.
The case was initiated in September when USsteel producers, including ArcelorMittal USA, Nucor Corp, AK Steel HoldingsCorp and Steel Corp, filed lawsuits in which they claimed Chinese steelproducers shipped products via Vietnam to evade tariffs.
In November 2017, the European Union’santi-fraud office said it found Chinese steel was shipped through Vietnam toevade the bloc’s tariffs.-VNA
VNA
