HANOI/BEIJING: Vietnam will impose a temporary anti-dumping levy of up to 27.83% on some steel products from China, according to a trade ministry document seen by Reuters.
The tariff on hot-rolled steel products is expected to take effect from March 7 and will be in place for 120 days, the document, dated February 21, said. A ministry official confirmed the content of the document.
Among companies hit by the 27.83% duties are Baoshan Iron & Steel and Maanshan Iron & Steel. Guangxi Liuzhou Iron and Steel Group will face duties of 19.38%, the document said.
It also said hot-rolled steel products from India would not face anti-dumping tariffs.
Vietnam launched an anti-dumping investigation in July following complaints from Vietnamese producers.
The government had said that in the January-September period last year Vietnam imported nearly 8.8 million tons of hot-rolled steel, 72% of which originated from China.
China says ‘doing its best’ to push for tariff negotiations with EU
The total value of steel and iron ore and steel and iron products imported from China last year was nearly $12 billion, Vietnam’s customs data shows.
China’s ministries of commerce and foreign affairs did not immediately reply to faxed requests for comment after business hours.
Hanoi’s move comes after the U.S. administration announced 25% tariffs on all its steel imports earlier this month, which would take effect on March 4.
The U.S. has already imposed anti-dumping duties on multiple Vietnamese steel exports and producers, in some cases even higher than 25%.
It is not clear whether the latest U.S. duties would be applied to Vietnam’s steel on top of existing anti-dumping measures.
Comments
Comments are closed for this article.