The US has imposed preliminary anti-dumping duties of nearly 195 per cent on hardwood and decorative plywood imports from Việt Nam. — Photo congthuong.vn

HÀ NỘI — Việt Nam’s plywood exporters are bracing for heavy headwinds after the United States imposed preliminary anti-dumping duties of nearly 195 per cent on hardwood and decorative plywood, among the highest rates seen in recent US trade remedy cases.

In a recent notice, the US Department of Commerce said hardwood and decorative plywood from Việt Nam is being, or is likely to be, sold in the US at less than fair value.

Under the preliminary decision, anti-dumping duties, after adjustment for subsidy offsets, range from 191.85 per cent to 194.80 per cent for mandatory respondents.

Junma Phú Thọ Co., Ltd. faces a rate of 194.8 per cent, while Triệu Thái Sơn Co., Ltd. is subject to 191.85 per cent. Fifty other Vietnamese exporters granted separate rate status are subject to 193.32 per cent, which also applies as the nationwide rate for remaining companies.

When combined with preliminary countervailing duties from a parallel subsidy investigation, the total duty burden on Vietnamese plywood could reach 208.88 per cent.

According to the Trade Remedies Authority of Việt Nam, the investigation was launched following a petition by the US Fair Trade Committee for Hardwood Plywood, covering products mainly classified under HS codes 4412 and 9403. China and Indonesia are also subject to anti-dumping and countervailing duty investigations.

The period of investigation runs from October 1, 2024, through March 31, 2025.

Việt Nam’s preliminary anti-dumping rate is higher than China’s 185.96 per cent and significantly above Indonesia’s 38.27 per cent. When both anti-dumping and countervailing duties are combined, total duties stand at 267.3 per cent for China, 208.88 per cent for Việt Nam, and 166.93 per cent for Indonesia.

Once the preliminary determination is published in the Federal Register, expected within days, importers will be required to post cash deposits equivalent to the preliminary duty rates at customs clearance.

A final determination is scheduled within 135 days of publication of the preliminary findings. During that time, interested parties may submit comments and rebuttals, request hearings and US officials may conduct on-site verifications of Vietnamese companies.

The Trade Remedies Authority of Việt Nam has urged affected companies to continue cooperating fully with US investigators, review the product scope carefully to assess possible exclusions, and prepare complete and transparent documentation to safeguard their interests during the final phase of the investigation.

The agency stressed that the findings are preliminary and that final duty rates may change depending on the results of on-site verifications and consideration of comments and rebuttals from interested parties.

If upheld, the tariffs would place significant pressure on Vietnamese plywood manufacturers and exporters.

Data from the US International Trade Commission cited by the petitioner show Việt Nam’s exports of the products under investigation to the US reached approximately US$401 million in 2022, fell to $186 million in 2023, and rebounded to $244 million in 2024. — VNS