Vietnam slaps high anti-dumping tariffs on imported galvanized steel

By Dam Tuan   September 4, 2016 | 11:00 pm PT
Chinese and South Korean firms will be squeezed out by tariffs of up to 38 percent.

Vietnam has decided to impose significant anti-dumping measures against Chinese and South Korean steel imports.

The Ministry of Industry and Trade has issued the decision to impose temporary anti-dumping tariffs for imported galvanized steel products from China and South Korea, according to the Vietnam Competition Agency's website.

The anti-dumping rates range from 4.02 to 38.34 percent for Chinese steel enterprises, and 12.4 to 19 percent for South Korean firms.

The Vietnam Competition Authority said that the anti-dumping tariffs will increase import costs and protect the domestic market. The specific temporary anti-dumping tax rates for galvanized steel products from China (including Hong Kong) and South Korea are listed below and will be levied from September 16 to January 16:

Country/Territory No. Holding company/ exporter Commercial firm/affiliate Temporary anti-dumping tax rate (percent)
China (including Hong Kong) 1 Yieh Phui (China) Technomaterial Co., Ltd. Chin Fong Metal Pte., Ltd. 4.02
2 Bazhou Sanquiang Metal Products Co., Ltd. Sumec International Technology Co., Ltd. 7.2
3 BX Steel POSCO Cold Rolled Sheet Co., Ltd. Benxi Iron and Steel International Economic and Trading Co., Ltd. 38.34
4 Bengang Steel Plates Co., Ltd. Benxi Iron and Steel International Economic and Trading Co., Ltd. 34.77
5 Tianjin Haigang Steel Sheet Tianjin Hajinde Co., Ltd. 11.87
6 Hebei Iron & Steel Co., Ltd., Tangshan Branch Tangshan Iron & Steel Group Co., Ltd. 20.76
7 Wuhan Iron and Steel Company Limited 1. International Economic and Trading Corporation WISCO

2. Wugang Trading Company Limited

3. Ye-Steel Trading Co., Limited

4. Steelco Pacific Trading Limited

8 Other Chinese holding companies/ exporters   38.34
South Korea 1 POSCO 1. Daewoo International Corporation

2. POSCO Asia

3. POSCO Processing & Service Co., Ltd

2 Other South Korean holding companies/ exporters   19

Vietnam has imposed new anti-dumping tax rates on steel imports to protect the domestic market. Photo from Hung Le

Vietnamese authorities will conduct follow-up investigations after the temporary period, and more information will be made public on official websites.

On March 3, 2016, Vietnam’s Ministry of Industry and Trade initiated anti-dumping investigations into galvanized steel products imported from China, Hong Kong and South Korea.

Vietnam already imposes tariffs of 23.3 percent on steel billet imported from China, the U.S., Canada, Germany, France, Japan and South Korea.

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