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On July 30, 2024, the Trade Remedies Authority received information that the European Commission (EC) has received a complete and valid application requesting an investigation into the application of anti-dumping measures on non-alloy or alloy hot rolled steel products imported from Vietnam.
In the event of initiating an investigation, the EC will send relevant parties documents including the application, the decision to initiate the investigation, and the investigation questionnaire.
This is not the first time the EC has initiated an anti-dumping investigation on Vietnamese steel products. Previously, on August 14, 2023, the European Commission unexpectedly announced an anti-dumping investigation on cold-rolled stainless steel products originating from Vietnam to address concerns about trade remedy measure evasion from the existing anti-dumping order on Indonesia.
The steel products under investigation are classified under the HS codes 7219 31 00, 7219 32 10, 7219 32 90, 7219 33 10, 7219 33 90, 7219 34 10, 7219 34 90, 7219 35 10, 7219 35 90, 7219 90 20, 7219 90 80, 7220 20 21, 7220 20 29, 7220 20 41, 7220 20 49, 7220 20 81, 7220 20 89, 7220 90 20, and 7220 90 80.
In recent years, Vietnam’s steel export volume has risen rapidly, attracting attention from many countries and leading to a high rate of trade remedy investigations. Most of these cases often originate from large and important markets such as Europe, the United States, Mexico, and others.
These markets are highly potential but also have many stringent standards, regulations, and high trade remedy risks. An objective reason for Vietnam’s trade remedy investigations is the ongoing risk of trade tension between China and Western countries, leading these nations to restrict trade.
According to the latest announcement from the European Commission (EC) in May 2024, the EC may impose anti-dumping duties on imported hot rolled steel from China if it determines that these products are being dumped and causing harm to the local industry.
This presents an opportunity for countries like Vietnam to gain a larger export market share as China faces restrictions, but it also increases the risk of trade remedy investigations.
Determining whether this situation is an opportunity or a challenge will depend entirely on the policies of Vietnamese steel companies. To ensure their interests and receive advice on the next development steps, Vietnamese businesses need to strictly control the volume of exports and contact reputable law firms specializing in anti-dumping and trade remedy for timely support.
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.
