Vietnam will impose temporary anti-dumping duties ranging from 19.38% to 27.83% on certain steel products from China, effective March 8.
| Steel products from China are subject to Vietnam's anti-dumping tariffs. Photo: Pham Hung/The Hanoi Times |
Last year, the Ministry of Industry and Trade (MoIT) initiated an anti-dumping investigation on certain hot rolled coil (HRC) steel products from India and China for the period July 1, 2023 to June 30, 2024. The investigation was initiated at the request of two domestic producers: Hoa Phat Dung Quat Steel Company and Hung Nghiep Formosa Ha Tinh Steel Company.
On February 21, the ministry issued Decision No. 460 to impose temporary anti-dumping duties on certain HRC steel products from both India and China. The temporary duties on products originating in China will range from 19.38% to 27.83%, effective March 8.
For products originating in India, the investigation confirmed the existence of dumping but found that the volume of imports was negligible, representing less than 3% of total imports. As a result, Indian products were excluded from the scope of the temporary anti-dumping measures.
The MoIT stated that the investigation is under Vietnam's Foreign Trade Management Law. The ministry has worked with relevant agencies to assess the impact of subsidized steel imports on the domestic industry. The dumping margins of Indian and Chinese producers and exporters were thoroughly examined.
According to customs data, Vietnam imported 12.6 million tons of hot-rolled steel from China last year, an increase of more than 33% from 2023. Notably, imports from China continued to surge even after the ministry launched the investigation in July 2024.
In light of these developments, the ministry decided to impose temporary anti-dumping measures to prevent a sharp increase in steel imports that could seriously harm the domestic steel industry in the near future.
The department will continue to work with relevant parties to gather and review information before concluding. The decision will be based on a comprehensive assessment of the overall impact of the case.
