Vietnam charges an anti -dumping fee for steel imports after lawsuits

The Vietnam Competition agency under the Ministry of Industry and Trade announced that the import of steel products from China, Indonesia, Malaysia and Taiwan will be subject to the use of anti -dumping tariffs from 6.45 to 30.73 percent.

The measures taken are the result of the five -month inspection of the Vietnam Competition agency investigating the circumstances of steel imports from China, Indonesia, Malaysia and Taiwan in response to complaints received from the Posco VST Company limited and Hoa Binh Inox JSC, which represent all Vietnamese metallurgists. The plaintiffs said that manufacturers from these countries sold their steel products in Vietnam at dumping prices, resulting in a "serious damage" to the internal production sector of stainless steel.

In this regard, the VCA will levy anti -dumping duties within 120 days on the steel import of these exporters. As for Chinese exporters, anti -dumping duties in the amount of 6.45 percent will be used for Fujian Southeast Stainless Steel Co Ltd, while the corresponding indicators for lianzhong stainless steel corporation will amount to 6.99 percent, in accordance with the VCA decision. For PT Jindal Stainess, Indonesia and other Indonesian metallurgical companies will use 12.03 percentage fees for steel in Vietnam.

Bahru Stainless SDN BHD and other stainless steel manufacturers in Malaysia are subject to 14.38 percent tax. The highest obligations in the amount of 30.73 percent are imposed by Taiwanese Yuan Long Stainess Steel Corp, although other Taiwanese manufacturers may have 13.23 percent tariffs.