The US Department of Commerce has initiated anti-dumping and anti-subsidy investigations into hardwood and decorative plywood products imported from Việt Nam. — File Photo

HÀ NỘI — The US Department of Commerce (DOC) has initiated anti-dumping and anti-subsidy investigations into hardwood and decorative plywood products imported from Việt Nam, the Trade Remedies Authority of Vietnam said.

The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Việt Nam.

The petitioner cited data from the US International Trade Commission which showed that Việt Nam exported around US$401 million in 2022, $186 million in 2023 and $244 million in 2024, making Việt Nam the second-largest exporter after Indonesia.

Nearly 100 Vietnamese exporters are alleged to have dumped goods into the US at margins ranging from 138.04 per cent to 152.41 per cent.

The investigation period is from October 1, 2024 to March 3, 2025 while the injury investigation covers the period from 2022 to 2024.

Since the US does not recognise Việt Nam as a market economy, dumping margins will be calculated using surrogate country values. The petitioner proposes Indonesia as the surrogate country, citing similarities in economic development and production structure.

The countervailing duty investigation will examine 26 alleged subsidy programmes provided by the Vietnamese government, including preferential credit, export and investment financial support, corporate income tax incentives, import duty exemptions and refunds, land use incentives, preferential utility pricing and transnational subsidies.

According to statistics of Vietnam Timber and Forest Products Association, the three largest Vietnamese exporters of subject goods during 2024-25 may include Triệu Thái sơn, Greatwood and Junma Phú Thọ.

The Trade Remedies Authority of Vietnam urged affected firms to closely watch the case, cooperate fully with the US investigators while strengthening the effort to diversify markets and export products. — VNS