EU imposes anti-dumping tax of up to 12.1% on Vietnamese steel

The EU imposed a provisional anti-dumping tax of 12.1% on some types of hot-rolled steel from Vietnam, except for products of Hoa Phat Dung Quat.

According to information from the Department of Trade Defense (Ministry of Industry and Trade), on April 7, the European Commission (EC) issued a preliminary conclusion and applied temporary anti-dumping measures on some hot-rolled steel products imported from Vietnam.

Based on data provided by two Vietnamese companies, Hung Nghiep Formosa Ha Tinh Steel and Hoa Phat Dung Quat Steel, the EC determined the preliminary dumping margin for goods from Vietnam to range from 0-12.1%, depending on the enterprise.

Therefore, this agency decided to apply a temporary anti-dumping tax of 12.1% on products from Formosa Ha Tinh Steel Corporation and other companies. The tax on Hoa Phat Dung Quat Steel of billionaire Tran Dinh Long is 0%.

This tax is calculated as a percentage of the CIF price (seller bears the cost of transport and insurance of goods to the port) at the EU border, excluding customs duties.

Hoa Phat Steel in Dung Quat - Quang Ngai. Photo: Giang Huy

The anti-dumping investigation into hot-rolled steel, under some CN codes in groups 7208, 7211, 7225 and 7226 imported from Vietnam was initiated on August 8, 2024, according to the complaint of the European Steel Association.

The anti-dumping investigation period runs from 1 April 2023 to 31 March 2024, while the injury investigation period runs from 1 January 2021 to 31 March 2024. According to the preliminary results, the EC determined that the EU hot-rolled steel industry has suffered significant injury, reflected in a decline in market share, sales prices, profits, investment and employment.

The Trade Defense Department recommends that the Vietnam Steel Association (VSA), enterprises producing and exporting investigated goods carefully study the information and continue to fully cooperate with the EC in the next investigation process.

PV Synthesis

Source: https://hatinhtv.vn/tin-bai/kinh-te/eu-ap-thue-chong-ban-pha-gia-den-12-1-thep-viet