Vietnam levies anti-dumping duty on steel imports after lawsuits

Steel imports from China, Indonesia, Malaysia, and Taiwan will be subject to anti-dumping tariffs ranging from 6.45 percent to 30.73 percent, the Vietnam Competition Agency under the Ministry of Industry and Trade announced on Tuesday.

The ruling is the result of a five-month inspection by Vietnam Competition Agency (VCA) on steel imports from China, Indonesia, Malaysia, and Taiwan, following complaints from Posco VST Co Ltd and Hoa Binh Inox JSC, who represent all Vietnamese steelmakers.

The plaintiffs said manufacturers from these countries and territories have sold their steel products to Vietnam at dumping prices, causing “remarkable damage” to the domestic stainless steel manufacturing sector.

VCA thus levies the anti-dumping duties within 120 days on the steel imports of these exporters.

As for the Chinese exporters, a 6.45 percent anti-dumping duty will be applied for Fujian Southeast Stainless Steel Co Ltd, while the respective figures for Lianzhong Stainless Steel Corporation and Fujian Southeast Stainless Steel Co Ltd are 6.99 percent and 6.68 percent, according to VCA.

PT Jindal Stainless Indonesia and other Indonesian steelmakers will bear a 12.03 percent duty when exporting steel to Vietnam.

Bahru Stainless Sdn Bhd and other Malaysian manufactures are subject to a 14.38 percent tax.

The highest duty, 30.73 percent, is imposed to Taiwan’s Yuan Long Stainless Steel Corp, while Yieh United Steel Corporation and other Taiwanese steelmakers are subject to a 13.23 percent tariff.

The Vietnamese plaintiffs have called for duties ranging from 20 percent to 39.9 percent to be applied for five years.