On February 21, the Ministry of Industry and Trade issued a decision to apply temporary anti-dumping taxes on some hot-rolled steel products (HRC) originating from India and China. Accordingly, the temporary anti-dumping tax rate applied to investigated goods from China is 19.38 - 27.83%.
The Ministry of Industry and Trade said that during the investigation of the incident, this unit has coordinated with relevant agencies to review and assess the impact of dumping of imported goods on the activities of the domestic manufacturing industry and the dumping level of manufacturing and exporting enterprises from India and China.
The investigation results show that, although there is a practice of selling at a discount, due to the insignificant import rate of goods being investigated from India (under 3%)), the goods being investigated from India are excluded from the scope of temporary anti- devaluation tax.
According to customs data, the import of hot-rolled steel in 2024 reached 12.6 million tons, an increase of more than 33% compared to 2023. In particular, after the Ministry of Industry and Trade issued a decision to initiate an investigation into this case from July 2024, the import of hot-rolled steel from China continued to increase significantly.
Therefore, the Ministry of Industry and Trade has considered applying temporary anti-dumping measures to prevent the rapid increase in hot-rolled steel imports that could cause serious damage to the domestic manufacturing industry in the coming time.
According to regulations, the Ministry of Industry and Trade will continue to work with relevant parties to collect and verify information and documents provided by relevant parties and make final conclusions based on a comprehensive assessment of the impact of the case.
Temporary anti-dumping tax takes effect after 15 days from the date of issuance of the decision. The application period is 120 days from the effective date.
Previously, in March 2024, Hoa Phat Group and Formosa Hang Thang Steel Corporation Limited submitted a request for an anti- dumping investigation of HRC steel products imported from China and India to the Department of Trade Defense.
In July 2024, the Ministry of Industry and Trade decided to initiate an investigation to prevent dumping of some HRC steel products imported from these two countries.
