Econ
Vietnam slaps anti-dumping tariff on Chinese aluminum
The tax applied on aluminum and alloy products imported from China ranges from 2.46% to 35.5% and will temporally take effect from June 5.
After months of investigation into the extent aluminum imports from China hurt the domestic manufacturers, the Vietnamese Ministry of Industry and Trade has issued a decision on imposing a temporary anti-dumping tax on this Chinese product.
In detail, the ministry decided to imposed anti-dumping duty on aluminum and non-alloy aluminum products in forms of bars, rods, extruded, treated and untreated surface, processed and unprocessed, according to VnEconomy.
The tax applied on aluminum and alloy products imported from China ranges from 2.46% to 35.5% and will temporally take effect from June 5.
Those products are used to make aluminum doors, wattle walls, storages, interior or exterior decorations, structures in houses and constructions.
In addition, they are also utilized to fabricate some details of industrial machines and structures.
The ministry may modify and add more products to the anti-dumping duty list in accordance with the investigated product descriptions and other changes.
The ministry will inspect and verify the reports and hold public consultations with all relevant sides so they can exchange views and provide information directly before the investigation is officially concluded.
At end-2018, Austdoor, Song Hong Aluminium, Tung Yang and MienHua, which hold a combined 31.54% of domestic output, filed the complaints.
Vietnamese law on foreign trade management stipulates that the Ministry of Industry and Trade could apply anti-dumping duty retrospectively to the imported products, which are determined to cause possible significant loss or serious injury to domestic industry .
Therefore, the ministry warned organizations and individuals to consider the possibility of anti-dumping duty when signing import, distribution and business contracts as well as using the investigated goods.
Reuters reported in January that US aluminum products makers sought new trade protections against Chinese imports, accusing China Zhongwang Holdings Ltd and its affiliates of evading US anti-dumping and anti-subsidy duties by shipping aluminum products through Vietnam.
Many domestic aluminum manufactures complained that the aluminum imported from China has caused damage to their productions. Photo by VnEconomy.
|
The tax applied on aluminum and alloy products imported from China ranges from 2.46% to 35.5% and will temporally take effect from June 5.
Those products are used to make aluminum doors, wattle walls, storages, interior or exterior decorations, structures in houses and constructions.
In addition, they are also utilized to fabricate some details of industrial machines and structures.
The ministry may modify and add more products to the anti-dumping duty list in accordance with the investigated product descriptions and other changes.
The ministry will inspect and verify the reports and hold public consultations with all relevant sides so they can exchange views and provide information directly before the investigation is officially concluded.
At end-2018, Austdoor, Song Hong Aluminium, Tung Yang and MienHua, which hold a combined 31.54% of domestic output, filed the complaints.
Vietnamese law on foreign trade management stipulates that the Ministry of Industry and Trade could apply anti-dumping duty retrospectively to the imported products, which are determined to cause possible significant loss or serious injury to domestic industry .
Therefore, the ministry warned organizations and individuals to consider the possibility of anti-dumping duty when signing import, distribution and business contracts as well as using the investigated goods.
Reuters reported in January that US aluminum products makers sought new trade protections against Chinese imports, accusing China Zhongwang Holdings Ltd and its affiliates of evading US anti-dumping and anti-subsidy duties by shipping aluminum products through Vietnam.
