US cuts down anti-dumping duties on Vietnam’s honey by almost sevenfold
The US Department of Commerce (DOC) has slashed the anti-dumping duties on Vietnam’s honey exporters by almost sevenfold compared to its preliminary conclusions, according to the Vietnamese Ministry of Industry and Trade (MoIT).
The US' anti-dumping duties on Vietnam's honey exporters have been cut by almost sevenfold. (Photo: VNA)
Hanoi (VNA) – The USDepartment of Commerce (DOC) has slashed the anti-dumping duties on Vietnam’shoney exporters by almost sevenfold compared to its preliminary conclusions, according to theVietnamese Ministry of Industry and Trade (MoIT).
This is part of the DOC’sfinal conclusions on tax rates in the anti-dumping investigation against honey imported from Argentina, Brazil, India, and Vietnam.
Accordingly, the anti-dumpingduties on Vietnamese businesses were cut down to 58.74 - 61.27 percent from410.93 - 413.99 percent in the preliminary conclusions.
This will help Vietnam’shoney industry maintain export to the US, the MoIT said, noting that it welcomesthe DOC listening to relevant parties’ opinions and adjusting part of itscalculation methodology.
However, the MoIT held thatthis result has yet to truly reflect Vietnam’s honey production and export.
In the US, there are twoagencies taking part in an anti-dumping probe, namely the DOC that determinesanti-dumping duties and the International Trade Commission (ITC) that assesses damagesuffered by domestic industries.
Anti-dumping measures willofficially come into force on the basis of final conclusions on anti-dumpingduties and losses to domestic industries in the US.
The ITC is investigating thelosses to the US’s honey industry and expected to issue final conclusions on May23.
Vietnam exported 56,133tonnes of honey worth about 82.1 million USD to the US in 2021, accordingto the ITC.
The MoIT said in the time ahead,it will continue working with relevant ministries and sectors, the VietnamBeekeeperss Association, and exporters to keep sharing information with the USagencies in the following stages of investigation in order to help Vietnam’shoney industry be treated equally in this case as in line with regulations ofthe World Trade Organisation./.
The US Department of Commerce (DOC) has officially begun an anti-dumping investigation into honey imported from Argentina, Brazil, Ukraine, and Vietnam, the Trade Remedies Authority of Vietnam has announced.
The US Department of Commerce (DOC) has postponed the preliminary determination of the anti-dumping investigations of raw honey originated from Argentina, Brazil, Ukraine, India and Vietnam.
Vietnam’s honey products are different from those produced in the US so they do not cause damage to the US’s apiculture sector, Deputy Director of the Ministry of Industry and Trade’s Trade Remedies Authority of Vietnam Pham Chau Giang said at the Vietnam – US Trade Forum 2021 which was held both online and offline on December 7.
The US's plan to impose an anti-dumping tariff of up to 400 percent against imported Vietnamese raw honey products would pose very negative impacts on Vietnam's beekeeping industry, of which the US has been the prime import market, said spokeswoman of the Ministry of Foreign Affairs Le Thi Thu Hang.
While more than 85 percent of the local honey exports go to the US, Vietnam is at risk of losing the market due to the possible highest tax ever in an anti-dumping case.
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The US' anti-dumping duties on Vietnam's honey exporters have been cut by almost sevenfold. (Photo: VNA) 
