Hoa Phat's HRC is granted CE Marking - a quality certification considered a "passport" when exporting to Europe.
The European Commission (EC) has just issued a Notice proposing to impose provisional anti-dumping duties on some hot-rolled steel products imported into the European Union (EU) from Egypt, India, Japan and Vietnam. According to this Notice, hot-rolled coil (HRC) of Hoa Phat Group is not subject to provisional anti-dumping duties.
Hoa Phat's HRC steel is not subject to anti-dumping tax
Hoa Phat representative said that the above result comes from many factors. Firstly, Hoa Phat hot rolled steel coil is produced on a modern technological line, all production stages are optimized, so it has a competitive price. During the EU investigation, Hoa Phat cooperated closely, proactively providing full relevant data to the investigation agency. Transparent data and a clear system are among the factors contributing to Hoa Phat's success in this lawsuit.
It can be seen that the fact that Hoa Phat hot-rolled steel is not subject to anti-dumping tax shows that the Group's level and experience in handling legal issues in the international market are increasingly improved. In particular, downstream enterprises using Hoa Phat HRC have the opportunity to export to the EU without worrying about the origin and dumping of raw materials.
Previously, on August 8, 2024, the European Commission (EC) issued a Notice of Initiation of an Anti-dumping Investigation into Certain Hot-Rolled Steel Products Originating from Egypt, India, Japan and Vietnam Imported into the European Union (EU).
Currently, Formosa and other Vietnamese hot-rolled steel exporters are subject to a temporary tax rate of 12.1% when importing to the EU. Japanese hot-rolled steel imported to the EU is subject to a temporary tax rate of 6.9 - 33% and Egyptian hot-rolled steel is subject to a temporary tax rate of 15.6%.
Most sued items
Although Vietnam's steel production currently ranks 13th in the world and first in the ASEAN region, Vietnamese steel is also subject to trade defense measures from many countries.
By the end of May 2024, of the total 252 foreign trade defense investigations with Vietnam, about 30% of the cases involved steel products. The investigated steel products are quite diverse, including galvanized steel, cold-rolled stainless steel, color-coated steel, steel pipes, steel hangers, steel nails, etc. These lawsuits mostly occurred in Vietnam's major steel export markets such as the United States, EU, Australia, Malaysia, Indonesia, etc.
Dr. Nguyen Thi Thu Trang, Director of the WTO and Integration Center (VCCI), said that if only counting the WTO group, steel is also the group that is subject to the most trade defense measures. According to the WTO, from 1995 to 2023, there have been 2,123 lawsuits only on dumping, not including other trade defense lawsuits such as anti-subsidy or self-defense. Notably, in the past 5 years, from 2019 to present, the total number of anti-dumping cases on steel accounts for nearly 49% of the cases for all 30 years.
In Vietnam alone, 12 out of 28 trade defense cases have been against steel products, accounting for about 46% of the total trade defense cases ever conducted against all types of products in Vietnam so far. Meanwhile, countries have launched 73 trade defense cases against Vietnamese steel exports. This shows that countries have applied many trade defense measures to protect their markets.
"It is very difficult to determine whether Vietnam's trade defense measures are sufficient or not. In a context where the risk of unfair import competition is much higher for the steel industry than for other industries," Ms. Trang commented.
Source: https://baochinhphu.vn/eu-khong-ap-thue-chong-ban-pha-gia-tam-thoi-voi-thep-can-nong-hoa-phat-102250314193102113.htm
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