Producing steel at a factory of the Thai Nguyen Iron and Steel Joint Stock Company (Photo: VNA)Hanoi (VNA) – TheMinistry of Industry and Trade (MoIT) is working with steel businesses tohandle procedures required by the US Department of Commerce (DoC) to seekexemption from duties by proving their products are not made from Chinesematerials.
The DoC has said that importers and exporters ofVietnamese merchandise that is produced from substrate originating in Vietnamor a third-country can seek an exemption from cash deposits by certifying thatthe substrate originated outside of China.
On May 21, the US department ruled thatcorrosion-resistant steel (CORE) and certain cold-rolled steel flat products(CRS) imported from Vietnam produced from substrate originating in China arecircumventing antidumping and countervailing duty (AD/CVD) orders on CORE andCRS imported from China.
The DoC said the US Customs and BorderProtection (CBP) will continue to collect AD and CVD cash deposits onimports of CORE produced in Vietnam using Chinese-origin substrate at rates of199.43 percent and 39.05 percent, respectively. It will also collect ADand CVD cash deposits on imports of cold-rolled steel produced in Vietnam usingChinese-origin substrate at rates of 199.76 percent and 256.44 percent,respectively.
These cash deposit rates were previouslyestablished in the AD and CVD investigations on CRS and CORE from China. Cash deposits will apply to all unliquidated entries on or after November 4,2016, the date the inquiries were initiated.
The MoIT has been working with the Vietnam SteelAssociation and businesses to monitor the investigations since they werelaunched.
It has repeatedly asked the DoC to investigatein an objective manner and in line with World Trade Organisation regulationsand the US’s practices, and not to levy the duties on Vietnamese exporters.
The Vietnam Steel Association and steelproducers of Vietnam have also worked with the US to clarify the origin ofsteel materials and the production process in the country.
In 2017, Vietnam exported 4.7 million tonnes ofsteel abroad, earning 3.1 billion USD in revenue. Of this volume, 567,000tonnes of steel were shipped to the US, accounting for 12 percent of totalexports.-VNA
VNA
