Cold rolled steel imported from China continues to be subject to tax from 4.43 - 25.22%

The Ministry of Industry and Trade continues to maintain the application of anti-dumping measures on some Chinese cold-rolled (cold-pressed) steel products in coils or sheets imported into Vietnam.

The Ministry of Industry and Trade has just issued Decision No. 132/QD-BTC on maintaining the application of anti-dumping measures on a number of cold-rolled (cold-pressed) steel products in coils or sheets imported from China exported to Vietnam.

Cold rolled steel imported from China continues to be subject to tax from 4.43 - 25.22%.

Anti-dumping tax rates on Chinese cold-rolled steel products continue to remain unchanged according to Decision No. 3390/QD-BCT of the Ministry of Industry and Trade issued on December 21, 2020.

According to this decision, Chinese cold-rolled steel imported into Vietnam is subject to anti-dumping tax ranging from 4.43 to 25.22% depending on each specific manufacturing and exporting enterprise.

Previously, on September 3, 2019, many domestic steel manufacturing enterprises sent dossiers requesting anti-dumping investigation on some Chinese steel products imported into Vietnam.

The Ministry of Industry and Trade has decided to initiate an investigation into the case in accordance with the regulations of the World Trade Organization (WTO), the Foreign Trade Management Law and related regulations.

The results show that some Chinese steel products have elements of dumping behavior by foreign manufacturing and exporting enterprises; there is a threat of significant damage to the domestic industry.

Specifically, in Decision No. 3390/QD-BCT, the Ministry of Industry and Trade said that during the investigation period, the amount of cold rolled steel imports from China reached 272,073 tons, accounting for 65.5% of the total cold rolled steel imports. into Vietnam.

Import data shows an absolute and relative increase in cold-rolled steel imports from China relative to production in Vietnam.

This increase is the main cause of negative impacts on the production and business activities of similar goods of domestic manufacturing enterprises.

Therefore, the domestic manufacturing industry is threatened with significant damage, reflected in most indicators, especially indicators of profit, inventory and market share. Besides, the dumping margin of imported goods is determined to be from 4.43% to 25.22%.

Anti-dumping measures on goods imported from China in this case are effective within 5 years from the effective date of Decision 3390/QD-BCT. Every year, relevant parties can submit documents to request the Ministry of Industry and Trade to conduct an investigation and review on the issue of product scope, anti-dumping tax rates applied to new exporters or current tax rates. The law applies to foreign manufacturing and exporting enterprises.