JavaScript is off. Please enable to view full site.

Vietnam imposes anti-dumping tax on Chinese cold-rolled steel

Vietnam imposes anti-dumping tax on Chinese cold-rolled steel

Wednesday, December 23, 2020, 13:55 GMT+7
Vietnam imposes anti-dumping tax on Chinese cold-rolled steel
A worker checks steel wires at a warehouse in Dalian, Liaoning province, China May 15, 2017. Photo: Reuters

HANOI -- Vietnam has imposed anti-dumping duties on some coil or sheet cold-rolled steel products that originated from China for five years starting Dec. 28, its industry and trade ministry said on Wednesday.

The duties, specifically for coils or sheets of a width of less than 1,600 mm and between 0.108 mm-2.55 mm thickness, come after the ministry finished an anti-dumping investigation that started in September last year, on behalf of the domestic industry.

The probe concluded that cold-rolled steel imported from China reached 272,073 tonnes in the period, accounting for 65.5% of the total cold-rolled steel imports into Vietnam, the ministry said in a statement.

“The domestic manufacturing industry is under threat of considerable damages as key indicators such as profit, inventory and market share are poor,” it added.

It said the anti-dumping tax would range from 4.43% to 25.22%.

The Southeast Asian country in 2019 had imposed an anti-dumping tax of 3.45% to 34.27% on some Chinese steel products.

Vietnam has consistently said it would crack down on goods of Chinese origin illegally labelled “Made in Vietnam” by exporters seeking to avoid U.S. tariffs on products made in China.

Vietnam’s trade deficit with China reached $31.4 billion in the first 11 months of this year, slightly up the same period last year, official data showed.

Reuters - Tuoi Tre News

More

Read more

;

Photos

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news

India bans many single-use plastics to tackle waste

India imposed a ban on many single-use plastics on Friday in a bid to tackle waste choking rivers and poisoning wildlife, but experts say it faces severe headwinds from unprepared manufacturers and consumers unwilling to pay more