Vietnam's hot-rolled steel subject to 12.1% anti-dumping tax in EU

The EU officially imposed a 12.1% anti-dumping tax on some types of hot-rolled steel from Vietnam, except for Hoa Phat products.

EU officially imposes 12.1% anti-dumping tax on some types of hot-rolled steel from Vietnam

The Ministry of Industry and Trade said on September 26 that the European Commission (EC) announced anti-dumping duties on hot-rolled steel from Vietnam, along with Egypt and Japan. They also ended their investigation into similar products from India.

Accordingly, this agency decided to apply an anti-dumping tax of 12.1% on products from Hung Nghiep Formosa Ha Tinh Steel and other companies. However, products manufactured by companies belonging to Hoa Phat Group are not subject to this tax. These rates are similar to the preliminary tax rates issued by the EC in April.

Hot-rolled steel products from Egypt and Japan are subject to anti-dumping tax rates of 11.7-30%, respectively.

This tax is calculated as a percentage of the CIF price (seller bears the cost of transport and insurance of goods to the port) at the EU border, excluding customs duties.

The anti-dumping investigation into some hot-rolled steel products imported from Vietnam and the above countries was initiated on August 8, 2024, according to the complaint of the European Steel Association.

The anti-dumping investigation period is from April 1, 2023 to March 31, 2024, while the injury investigation period is from January 1, 2021 to March 31, 2024. Previously, the EC determined that the EU hot-rolled steel industry had suffered significant injury, reflected in a decline in market share, selling prices, profits, investment levels and employment.

In addition to hot-rolled steel, the EC has also initiated an anti-dumping investigation into cold-rolled steel products originating from India, Japan, Taiwan, Türkiye and Vietnam. The anti-dumping investigation period is from July 1, 2024 to June 30, 2025. The injury investigation period is from 2022 to June 30, 2025. This case will be completed within 1 year, which can be extended but not more than 14 months from the date of issuance of the notice of initiation.

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Source: https://baohaiphong.vn/thep-can-nong-cua-viet-nam-chiu-thue-chong-ban-pha-gia-12-1-vao-eu-521909.html