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On September 5, 2024, major U.S. steel companies including Steel Dynamics, Inc., Nucor Corporation, United States Steel Corporation, and Wheeling-Nippon Steel, Inc., along with several labor unions, filed a petition requesting the U.S. Department of Commerce (DOC) to impose anti-dumping and countervailing duties on corrosion-resistant steel (CORE) imports from several countries, including Vietnam.
The petition claims that the U.S. CORE steel industry is suffering significant harm due to unfair competition from imported products.
Scope of Products under Investigation: The investigation targets flat-rolled steel products coated, plated, or clad with corrosion-resistant metals such as zinc, aluminum, zinc-aluminum alloys, nickel, or iron, with or without special shapes, non-metallic coatings, or additional processing in third countries. These products may be in coil or non-coil form, with specific requirements on width, thickness, and shape. Certain steel products, such as tin-plated steel, lead-plated steel, and untinned steel, as well as products already subject to existing anti-dumping duties against Taiwan, are excluded from the investigation scope.
Import Volume and Value: According to statistics, Vietnam is among the countries with significant import volume and value of CORE steel to the U.S., with imports notably increasing in the first half of 2024. During this period, imports from Vietnam reached 468,167 tons, valued at approximately USD 380 million.
Investigation Process in the U.S.: The U.S. anti-dumping and countervailing duty investigation process includes two stages: preliminary and final, conducted by the DOC and the U.S. International Trade Commission (USITC). The DOC is responsible for determining the anti-dumping and countervailing duty rates, while the USITC assesses the injury to the domestic industry.
Anti-Dumping Investigation: The DOC is expected to decide whether to initiate an investigation on September 25, 2024, followed by issuing questionnaires to steel producers from the investigated countries, including Vietnam. Selected producers will be required to provide detailed data on sales and production costs for the DOC to calculate dumping margins. If a producer fails to cooperate, the duty rate will be determined based on adverse facts available, with a requested dumping margin of up to 158.83% for Vietnam.
Countervailing Duty Investigation: Similar to the anti-dumping investigation, the DOC will consider initiating a countervailing duty investigation based on the petition. Companies from Vietnam, along with relevant governments, will receive questionnaires about subsidies received and must provide specific information on the relationship between the government and the exporter.
Expected Investigation Outcomes: If the DOC concludes that dumping or subsidization has occurred, the U.S. will impose corresponding duties on imports from the investigated countries, including Vietnam. This process involves verifying information and determining official duty rates based on actual data and public hearings. The duties will be officially imposed once the USITC confirms significant injury to the domestic industry.
Conclusion: This investigation could significantly impact Vietnam’s steel industry, especially as companies must demonstrate no involvement in dumping or receiving unfair subsidies. Exporters need to proactively cooperate and prepare comprehensive data to protect their business interests in the U.S. market.
To protect their legitimate rights and interests, relevant companies should contact a reputable law firm specializing in anti-dumping and trade remedy for timely support throughout the investigation process.
For more details on the handling process, companies can contact ASL LAW. ASL LAW is a law firm with expertise in anti-dumping and trade remedy, having successfully protected many companies over the years.
ASL Law is a leading full-service and independent Vietnamese law firm made up of experienced and talented lawyers. ASL Law is ranked as the top tier Law Firm in Vietnam by Legal500, Asia Law, WTR, and Asia Business Law Journal. Based in both Hanoi and Ho Chi Minh City in Vietnam, the firm’s main purpose is to provide the most practical, efficient and lawful advice to its domestic and international clients. If we can be of assistance, please email to [email protected].
ASL LAW is the top-tier Vietnam law firm for Anti-dumping & countervailing. If you need any advice, please contact us for further information or collaboration.
