Anti-dumping tax of 15% to 37% on galvanized steel from China and South Korea

chống bán phá giá - Ảnh 1. — Imported steel is flooding into Vietnam, while domestic businesses have excess stock and are struggling to sell - Photo: TL

The tax rates range from 15.67% to 37.13%, aimed at protecting the domestic steel industry from a sharp increase in imports.

Tax on galvanized steel from China and South Korea

According to the decision, the highest tax rate of 37.13% is applied to galvanized steel from China, while steel from South Korea is subject to a maximum tax rate of 15.67%.

Products subject to the duties include flat-rolled carbon steel, in coils or not in coils, with a carbon content of less than 0.6% by mass, clad, coated or plated with corrosion-resistant metals such as zinc, aluminium or ferrous alloys.

However, certain types of steel such as chrome-plated steel, stainless steel, or electrolytically galvanized steel are not subject to the tax.

Figures from the General Department of Customs show that in the 12 months to the end of March 2024, Vietnam imported 454,000 tons of galvanized steel from China and South Korea, an increase of 91% over the same period last year.

Notably, in the last 9 months of 2024, the import volume reached about 382,000 tons, an increase of 20% over the same period, although the Ministry of Industry and Trade had initiated an anti-dumping investigation earlier.

The Ministry of Industry and Trade believes that the rapid increase in imports of galvanized steel could cause serious damage to the domestic manufacturing industry if there are no timely control measures. Therefore, temporary anti-dumping duties are considered an urgent solution to protect the domestic market.

Taxable Enterprises and Exceptions

Among the taxed enterprises, Baosteel Zhanjiang Iron & Steel Co., Ltd. (China) and related companies are subject to the highest tax rate of 37.13%.

In South Korea, Hyundai Steel Company is subject to a 13.7% tax, while other manufacturers and exporters are subject to a 15.67% rate.

However, some businesses enjoy a 0% tax rate, including Boxing Hengrui New Material Co., Ltd. and Yieh Phui (China) Technomaterial Co., Ltd. from China; and POSCO, KG Dongbu Steel and Dongkuk Coated Metal from South Korea. These are companies that are assessed to not have a negative impact on the Vietnamese steel industry.

Previously, on February 21, the Ministry of Industry and Trade also imposed temporary anti-dumping tax on hot-rolled steel (HRC) from China, with tax rates ranging from 19.3% to 27.8%, effective from March 8, 2025 for 120 days.