Wednesday, December 13 2017

VietNamNews

US issues preliminary ruling on VN steel

Update: December, 07/2017 - 09:00
The US will collect cash deposits on imports of CORE and cold-rolled steel produced in Việt Nam using Chinese-origin substrate. - File Photo
Viet Nam News

HÀ NỘI – The US Department of Commerce (DOC) on Tuesday announced preliminary affirmative rulings on corrosion-resistant steel (CORE) and certain cold-rolled steel flat products imported from Việt Nam and produced from substrate originating in China.

Accordingly, cash deposits would be collected on imports of CORE and cold-rolled steel produced in Việt Nam using Chinese-origin substrate.

In a release on its website, DOE said CORE and cold-steel imported from Việt Nam produced from substrate originating in China were circumventing existing antidumping and countervailing duty orders on products imported from China.

The US ruling provided that DOC might find circumvention of antidumping/countervailing duty orders when merchandise that was the same class or kind as merchandise subject to existing orders is completed or assembled in a third country prior to importation into the United States.

The Customs and Border Protection will collect antidumping and countervailing duty cash deposits on imports of CORE produced in Việt Nam using Chinese-origin substrate at rates of 199.43 per cent and 39.05 per cent, respectively.

The rates on imports of cold-rolled steel produced in Việt Nam using Chinese-origin subtrate are 265.79 per cent and 256.44 per cent, respectively.

These cash deposit rates were previously established in investigations on cold-rolled steel and CORE from China.

Duties will apply to all shipments entering the United States on or after November 4, 2016, the date the circumvention inquiries were initiated, that remain unliquidated.

Importers and exporters of Vietnamese merchandise that is produced from substrate originating in Việt Nam or a third-country have the option of seeking an exemption from cash deposits by certifying that the substrate originated outside of China, according to the release.

DOC’s statistics showed that shipments of CORE from Việt Nam to the Unisted Stat increased from US$2 million to $80 million after preliminary duties were imposed on Chinese products in 2015.

Likewise, shipments of cold-rolled steel from Việt Nam to the United States increased from $9 million to $215 million after preliminary duties were imposed on Chinese products in 2015.

DOC is currently scheduled to announce its final determinations in these inquiries on February 16, 2018.

The case was initiated in September when US steel producers, including ArcelorMittal USA, Nucor Corp., AK Steel Holdings Corp. and Steel Corp, filed lawsuits in which they claimed Chinese steel producers shipped products via Việt Nam to evade tariffs.

In November, the European Union’s anti-fraud office said it found Chinese steel was shipped through Việt Nam to evade the bloc’s tariffs. - VNS

 

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