Ministry of Industry and Trade: Trade defense measures continue to be promoted

The Ministry of Industry and Trade said that trade defense measures continue to be promoted to re-establish an equal competitive environment for domestic manufacturing industries.

In 2024, the trend of de-globalization is rising strongly, protectionist policies are reappearing in many countries in different forms. Developed countries are increasingly concerned with issues of consumer safety, sustainable development, and climate change. From there, new standards and regulations related to supply chains, raw materials, labor, and the environment for imported products are established; in particular, many markets are increasing investigations and applying trade defense measures...

The Trade Defense Department will continue to support Vietnamese export enterprises in handling foreign trade defense investigations. Photo: Hoa Phat

In the report on industrial production and trade activities in September 2024, according to According to the Ministry of Industry and Trade, by the end of August 2024, there were 257 trade defense investigations from 24 markets and territories investigating Vietnam's exports. Of these, 141 were anti-dumping investigations; 52 were safeguard investigations; 37 were anti-circumvention of trade defense measures; and 27 were anti-subsidy investigations.

In response to investigations, the Ministry of Industry and Trade has updated the warning list of goods at risk of being investigated. Trade defense, anti-trade defense evasion (list updated at the end of each quarter) sent to Ministries, branches, People's Committees of provinces, Associations, and related enterprises for coordination and monitoring.

At the same time, early warning work as well as supporting businesses in responding to trade defense cases initiated by foreign countries investigating Vietnamese export goods in recent times has brought about some positive results. "Thanks to that, export enterprises are not subject to trade defense taxes or are subject to low taxes, contributing to maintaining and expanding export markets " - according to the Ministry of Industry and Trade.

On the other hand, the Ministry of Industry and Trade said that the work of initiating lawsuits, investigating and applying trade defense measures continues to be promoted to re-establish a fair competitive environment for domestic manufacturing industries in the context of many imported goods showing signs of dumping or being subsidized, causing serious damage to a number of domestic manufacturing industries.

The Ministry of Industry and Trade has initiated investigations into 29 trade defense cases and applied 22 measures to imported goods. At the same time, Trade Defense Department continue to investigate and review trade defense cases.

Specifically, including: Continuing to investigate and review 7 cases initiated in 2023; initiating investigations of 2 new cases, initiating reviews of 2 end-of-term reviews; receiving and processing 9 new investigation and review requests. Currently, out of 29 investigation cases, 17 trade defense measures are in effect.

The Ministry of Industry and Trade assessed that these measures have contributed to ensuring a fair trade environment to prevent negative impacts of imported goods on domestic production, labor, employment, ensuring economic security and social security, and increasing state budget revenue by about 1.5 trillion VND per year.

According to the Ministry of Industry and Trade, in the last months of 2024, our country's production and trade activities, especially exports to key markets such as Europe and America, will continue to have both advantages and challenges.

In particular, year-end consumption demand in major markets such as the US and EU will be an important driving force for exports, especially in the fields of electronics, consumer goods, and textiles (global retailers increase stockpiling for major holidays). In addition, our country's textile and garment exports will benefit in the short term when export orders are shifted from Bangladesh. FTA markets continue to have a positive impact, maintaining Vietnam's advantages in trade and investment activities...

However, the Ministry of Industry and Trade pointed out that the world's geopolitical situation continues to be complicated and unpredictable, with many difficulties, challenges, risks, and uncertainties, especially geopolitical tensions and armed conflicts in Europe and the Middle East. Developed countries are more concerned with sustainable development issues and consumer safety, creating new standards and regulations related to supply chains, raw materials, labor, and the environment, which are more stringent for imported products.

Along with that, the trend of investigating and applying trade defense measures will continue to be used by countries. Therefore, in the coming time, the Ministry of Industry and Trade will continue to promote the completion of the legal system to strengthen the trade defense regime towards protecting the domestic economy, enterprises, and markets in accordance with international commitments.

At the same time, the Ministry of Industry and Trade stated that it will continue to improve the effective use of trade defense tools to protect domestic production and effectively support Vietnam's export industries in effectively responding to foreign trade defense cases.

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