Tiếng Việt
中文 (中国)
According to statistics from Trademap, the export turnover of Vietnamese steel wire products to Canada has been increasing rapidly in recent years. Based on this information, the Vietnam Trade Remedies Authority has issued an official warning about the risk that Canada’s trade remedies authority may initiate investigations into Vietnamese steel wire products.
Up to now, Canada has initiated investigations into eight trade remedy cases involving various types of steel products exported from Vietnam, including five anti-dumping cases, two countervailing cases, and one safeguard case. Specifically, the products under investigation by Canada include steel products such as reinforcing steel bars, corrosion-resistant steel sheets, rolled steel, oil country tubular goods (OCTG) pipes, etc., manufactured in Vietnam.
With strict control and management policies for imported steel to protect the domestic market, it is expected that Canada will continue to consider investigating and applying trade remedies measures to other types of Vietnamese steel products, notably steel wire products, in the near future.
Steel wire products are commonly used in prestressed concrete technology (PC Wire), umbrella frames, tire bead wire (TBW), piano wire, wire cores of conductors, cables used for elevators, cranes, electrode welding cores, nails, etc.
In 2020, Vietnam exported approximately $10 million worth of steel wire to Canada. The export turnover of this product doubled to $21 million in 2021 and continued to grow strongly, reaching around $40 million in 2022.
The significant increase in export value is one of the criteria that Canada will rely on to initiate investigations and apply trade remedies measures.
Vietnamese enterprises producing steel wire products need to review their production and export activities to the Canadian market, prepare relevant documents in advance to provide to investigating authorities when requested.
In case of the risk of investigation, relevant associations and enterprises should contact reputable trade remedies law firm in Vietnam for timely assistance.
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