|Stainless steel strips in a factory in northern Việt Nam. Photo MoF|
HÀ NỘI — The US Department of Commerce (DOC) has delayed a final verdict on Vietnamese stainless steel plates (belt and strip) for the fifth time, according to the Vietnamese Ministry of Industry and Trade.
The DOC launched an anti-dumping, anti-subsidy tax evasion investigation and anti-circumvention on the Vietnamese steel products back in May 2020. A conclusion has been delayed four times in the last 2 years with the last deadline set on September 6. This time the DOC has set a new one on January 4, 2023.
The main focus of the investigation was to determine whether the Vietnamese products, which according to the DOC, originated from China before being outsourced to Việt Nam, should be subject to tax or anti-circumvention regulations.
Meanwhile, 75.60 per cent to 190.71 per cent of anti-dumping and anti-subsidy duties have been imposed on the products (HS codes 7219 and 7220) since February 2017. The US import duty for Việt Nam's stainless steel otherwise is set at zero.
The ministry advised Vietnamese steel businesses to stay up-to-date with the latest development of the investigation and conduct comprehensive studies on the US' anti-dumping, anti-subsidy and anti-circumvention laws to minimise potential damage.
Vietnamese businesses have also been told to fully cooperate with the US and Vietnamese authorities when asked and to stay in close contact with the ministry during the process. VNS