Photo for illustration. thanhnien.com.vn

The Ministry of Industry and Trade has issued a decision applying a preliminary anti-dumping duty on certain cold-rolled stainless steel products imported from China, Indonesia, Malaysia and Chinese Taiwan from January 25.

According to Decision N°9990/QD-BCT issued on December 25, anti-dumping tariffs will be levied on rolled stainless steel and steel sheets which are less than 3.5 millimeters thick and coded HS, including 7219.32.00; 7219.33.00; 7219.34.00; 7219.35.00; 7219.90.00; 7220.20.10; 7220.20.90; 7220.90.10; 7220.90.90 imported into Vietnam from those four markets.

The current tariffs on those items range from 0 percent to 10 percent. The zero tax is for cold-rolled stainless steel produced in China and ASEAN countries in line with the commitments to the free trade agreements Vietnam has signed.

The procedures for applying provisional antidumping duties are implemented in accordance with laws on application of antidumping measures on products imported into Vietnam and guidelines of Ministry of Finance on collecting, paying provisional anti-dumping duties as provided in laws on Taxation Administration.

On December 2, the Vietnam Competition Authority under the Ministry of Industry and Trade came up with a preliminary report on the stainless steel dumping case, which sought the ministry’s approval to impose the anti-dumping tariffs for 120 days.

“This is the first time Vietnam has imposed such anti-dumping tariffs to protect its domestic stainless steel producers… I think this is a good move for both steel producers and authorities in Vietnam,” said Dinh Huy Tam, former general secretary of the Vietnam Steel Association, as quoted by Saigon Times Daily.

In a report on the steel industry’s prospects in 2014 sent to the daily, Pham Chi Cuong, who is also former chairman of the Vietnam Steel Association, estimated this year’s total steel sales will rise 3-5 percent to reach 12.2-12.5 million tonnes.

Source: VNA