On September 13, 2023, Mexico’s Foreign Trade Enforcement Agency (Unidad de Prácticas Comerciales Internacionales – UPCI), part of the Mexican Ministry of Economy, released preliminary determinations in the anti-dumping investigation concerning the import of cold-rolled steel from Vietnam.
According to information in the preliminary determinations, the margin of dumping for cold-rolled steel products imported from Vietnam to the Mexican market ranges from 12.77% to 81.06%. Pursuant to Mexican Trade Law, the deadline for interested parties to submit comments on the case is 20 days from the date of issuance of the preliminary determinations.
It is expected that the final conclusion of the investigation will be issued within 4 months from the date of the preliminary determinations, which would be in January 2024. However, this timeline is subject to change based on various factors, including valid responses from the involved parties leading to additional investigations.
In 2021, Mexico initiated an anti-dumping investigation against Vietnam’s galvanized steel products. As of now, Mexico has initiated two trade remedy investigations against steel products originating from Vietnam.
Currently, Mexico is the second-largest trading partner of Vietnam in the Latin American region. Conversely, Vietnam ranks as Mexico’s eighth-largest trading partner in Asia. In recent years, Vietnam’s export value to Mexico has consistently shown positive growth, leading to a trade surplus in favor of Vietnam.
According to statistical data, in 2022, the bilateral trade volume between Vietnam and Mexico witnessed significant growth, reaching $5.421 billion, a 7% increase compared to 2021. Vietnam’s exports to Mexico in 2022 are estimated to have reached $4.532 billion.
To safeguard their legitimate interests, businesses should consider engaging with a reputable legal firm specializing in anti-dumping and trade remedy matters in both Vietnam and internationally to receive timely support.
For more detailed information, the announcement can be downloaded here.