On February 21, the Ministry of Industry and Trade decided to impose temporary anti-dumping tax on hot-rolled steel (HRC) imported from China, with tax rates ranging from 19.38 - 27.83%.
The Ministry of Industry and Trade has imposed temporary anti-dumping duties on HRC steel from China. In the photo: Visitors visit the HRC steel production line of a domestic enterprise - Photo: CONG TRUNG
Meanwhile, HRC steel imported from India is exempted due to the insignificant import ratio.
Taxes to protect domestic production
According to Decision No. 460/QD-BCT of the Ministry of Industry and Trade, temporary anti-dumping tax is officially applied to some HRC products originating from China and India.
According to this decision, investigated goods from China will be subject to a tax rate of 19.38 - 27.83%, effective 15 days after issuance and applicable within 120 days.
The Ministry of Industry and Trade said that during the investigation of the case, in accordance with the provisions of the Law on Foreign Trade Management, the Ministry of Industry and Trade coordinated with relevant units to carefully review and assess the impact of dumping of imported goods on the activities of domestic manufacturing industries and the level of dumping by manufacturing and exporting enterprises of India and China.
The investigation results show that although dumping does exist, the import rate of investigated goods from India is insignificant, less than 3%.
Therefore, according to the provisions of Clause 3, Article 78 of the Law on Foreign Trade Management, investigated goods from India are excluded from the scope of application of temporary anti-dumping tax.
According to customs data, in 2024, hot-rolled steel imports will reach 12.6 million tons, an increase of more than 33% compared to 2023.
In particular, after the Ministry of Industry and Trade initiated an investigation in July 2024, the amount of steel imported from China continued to increase significantly, raising concerns about the risk of the domestic market being seriously affected.
Faced with this situation, the Ministry of Industry and Trade has decided to apply temporary anti-dumping measures to control the increase in imports and protect domestic production.
Domestic capacity is still not enough to meet demand.
Currently, the total production capacity of two large domestic enterprises, Hoa Phat Group of billionaire Tran Dinh Long and Formosa, reaches 8.6 million tons/year, while domestic demand is about 13 million tons/year.
Domestic steel production not only serves the domestic market but also exports at an average ratio of 50 - 50.
The parties requesting the investigation, Hoa Phat and Formosa, provided evidence proving the dumping behavior of HRC imported from China and India. The calculation results showed that the dumping margin of HRC imported from these two countries was up to 27.83%.
After applying temporary anti-dumping tax, the Ministry of Industry and Trade will continue to work with relevant parties to collect and verify information. The application of temporary anti-dumping tax is considered a necessary measure to protect the domestic steel industry from competitive pressure from cheap imported steel.
The Ministry of Industry and Trade affirmed that it will continue to closely monitor the situation, ensuring that trade defense measures are implemented transparently and fairly, creating conditions for the domestic manufacturing industry to develop sustainably.
Previously, at the 2024 shareholders' meeting, Mr. Tran Dinh Long - Chairman of the Board of Directors of Hoa Phat Group - answered shareholders' questions surrounding the HRC import lawsuit.
Mr. Long affirmed that initiating an investigation is a step in accordance with the standards of the World Trade Organization (WTO) and is common in the international context. Mr. Long also emphasized that when Vietnam exports to the world, it also faces similar anti-dumping lawsuits.
Source: https://tuoitre.vn/bo-cong-thuong-ap-thue-chong-ban-pha-gia-tam-thoi-doi-voi-thep-hrc-tu-trung-quoc-20250221183042894.htm
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