Vietnam Strengthens Trade Defense Measures in Steel Sector
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Vietnam has been ensuring compliance with WTO requirements in implementing trade defense measures in its domestic market, particularly in the steel sector.
Heightened Trade Defense Activities
Recently, several trade defense cases related to the steel production sector have surfaced. On June 14, 2024, the Ministry of Industry and Trade issued Decision No. 1535/QD-BCT to investigate the application of anti-dumping measures on certain steel products originating from China and South Korea.
On the same day, the Ministry also announced that it had received complete and valid dossiers requesting an investigation into anti-dumping measures on hot-rolled coil (HRC) products from India and China.
Earlier, on March 19, 2024, the Trade Remedies Authority (Investigation Agency) received dossiers from companies representing the domestic industry, including Hoa Phat Group (HPG) and Formosa Ha Tinh Steel Corporation, requesting an investigation into anti-dumping measures on HRC products from India and China.
Currently, the Ministry of Industry and Trade is conducting a final review of the application of anti-dumping measures on cold-rolled stainless steel products (AD01) and color-coated steel (AD04) to assess the effectiveness of the measures and the possibility of extending them for another five years.
Vietnamese Steel Under Foreign Trade Defense
Conversely, Vietnamese steel has also been subjected to trade defense measures from numerous countries. As of the end of May 2024, about 30% of the 252 foreign trade defense investigations against Vietnam involved steel products. These investigations cover a diverse range of steel products, including coated steel, cold-rolled stainless steel, color-coated steel, steel pipes, steel hangers, and steel nails. Most of these cases have occurred in Vietnam's major steel export markets, such as the United States, the EU, Australia, Malaysia, and Indonesia.
During a recent talk show titled "Protecting Steel Manufacturing Enterprises in a Pincer Movement," Dr. Nguyen Thi Thu Trang, Director of the WTO and Integration Center (VCCI), stated that within the WTO group, steel is the most frequently subjected to trade defense measures. According to the WTO, from 1995 to 2023, there were 2,123 anti-dumping cases alone, not including other trade defense cases like countervailing or safeguard measures. Notably, in the past five years, from 2019 to the present, anti-dumping cases on steel accounted for nearly 49% of all such cases over the 30-year period.
In Vietnam, there have been 12 out of 28 trade defense cases involving steel products, accounting for about 46% of all trade defense cases conducted against all types of products in Vietnam to date. Meanwhile, other countries have initiated 73 trade defense cases against Vietnamese steel exports. This indicates that countries extensively use trade defense measures to protect their markets. There have been cases, such as with Vietnamese basa fish or shrimp, where anti-dumping measures have been applied for over 20 years.
"It is challenging to determine whether the number of trade defense measures in Vietnam is sufficient or insufficient. In a context where the risk of unfair competition from imports in the steel sector is significantly higher than in other sectors," Trang commented.
[/tintuc]
Vietnam has been ensuring compliance with WTO requirements in implementing trade defense measures in its domestic market, particularly in the steel sector.
Heightened Trade Defense Activities
Recently, several trade defense cases related to the steel production sector have surfaced. On June 14, 2024, the Ministry of Industry and Trade issued Decision No. 1535/QD-BCT to investigate the application of anti-dumping measures on certain steel products originating from China and South Korea.
On the same day, the Ministry also announced that it had received complete and valid dossiers requesting an investigation into anti-dumping measures on hot-rolled coil (HRC) products from India and China.
Earlier, on March 19, 2024, the Trade Remedies Authority (Investigation Agency) received dossiers from companies representing the domestic industry, including Hoa Phat Group (HPG) and Formosa Ha Tinh Steel Corporation, requesting an investigation into anti-dumping measures on HRC products from India and China.
Currently, the Ministry of Industry and Trade is conducting a final review of the application of anti-dumping measures on cold-rolled stainless steel products (AD01) and color-coated steel (AD04) to assess the effectiveness of the measures and the possibility of extending them for another five years.
Vietnamese Steel Under Foreign Trade Defense
Conversely, Vietnamese steel has also been subjected to trade defense measures from numerous countries. As of the end of May 2024, about 30% of the 252 foreign trade defense investigations against Vietnam involved steel products. These investigations cover a diverse range of steel products, including coated steel, cold-rolled stainless steel, color-coated steel, steel pipes, steel hangers, and steel nails. Most of these cases have occurred in Vietnam's major steel export markets, such as the United States, the EU, Australia, Malaysia, and Indonesia.
During a recent talk show titled "Protecting Steel Manufacturing Enterprises in a Pincer Movement," Dr. Nguyen Thi Thu Trang, Director of the WTO and Integration Center (VCCI), stated that within the WTO group, steel is the most frequently subjected to trade defense measures. According to the WTO, from 1995 to 2023, there were 2,123 anti-dumping cases alone, not including other trade defense cases like countervailing or safeguard measures. Notably, in the past five years, from 2019 to the present, anti-dumping cases on steel accounted for nearly 49% of all such cases over the 30-year period.
In Vietnam, there have been 12 out of 28 trade defense cases involving steel products, accounting for about 46% of all trade defense cases conducted against all types of products in Vietnam to date. Meanwhile, other countries have initiated 73 trade defense cases against Vietnamese steel exports. This indicates that countries extensively use trade defense measures to protect their markets. There have been cases, such as with Vietnamese basa fish or shrimp, where anti-dumping measures have been applied for over 20 years.
"It is challenging to determine whether the number of trade defense measures in Vietnam is sufficient or insufficient. In a context where the risk of unfair competition from imports in the steel sector is significantly higher than in other sectors," Trang commented.
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