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Vietnam ends AD duties on CR stainless steel imports from China, Taiwan, Malaysia, Indonesia

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Stainless Steel
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14 Nov 2024, 12:43 IST
Vietnam ends AD duties on CR stainless steel imports from China, Taiwan, Malaysia, Indonesia

  • Decision follows sunset review on tariff continuation

  • Move expected to ease cost burden on local importers

Vietnam's Ministry of Industry and Trade (MOIT) announced on 12 November that it would lift anti-dumping (AD) duties on cold-rolled (CR) stainless steel products from Taiwan, China, Indonesia, and Malaysia. This decision, effective immediately, follows a detailed sunset review process that evaluated both the necessity of these duties and their broader socio-economic impact.

The duties had been imposed in the previous years to protect domestic steel manufacturers from unfair trade practices. However, the sunset review concluded that these measures were no longer required, in line with Vietnam's World Trade Organization (WTO) obligations. The review also focused on the products under specific HS codes, including 7219.32.00, 7219.33.00, 7219.34.00, and related categories.

Why the change?

The termination of these duties reflects a broader alignment with global trade norms. The WTO mandates that AD measures be reassessed periodically to ensure they remain justified. In this case, the Ministry determined that the removal of the tariffs would not harm the domestic market. Instead, it is expected to reduce costs for local manufacturers and consumers reliant on imported stainless steel for finished products.

Outlook

The removal of AD duties is likely to have significant market implications. Importers of CR stainless steel will benefit from reduced costs, potentially bringing down prices for downstream manufacturers, including those producing finished goods. At the same time, local producers may face increased competition from imports, particularly from major exporters such as China and Taiwan.

The Ministry emphasised that it will continue to monitor imports to ensure compliance with international trade commitments and safeguard the interests of both consumers and domestic manufacturers.

14 Nov 2024, 12:43 IST

 

 

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