The Ministry of Industry and Trade has announced temporary anti-dumping duties on colour-coated steel sheets originating from China and the Republic of Korea, which take effect from June 25.
The Ministry of Industry and Trade (MoIT) has announced temporary anti-dumping duties on colour-coated steel sheets originating from China and the Republic of Korea (RoK). (Photo: congthuong.vn)
Accordingly, Chinese exporters will be taxed from 3.45-34.27 percent while anti-dumping duties for Korean businesses range 4.48-19.25 percent.
The MoIT said it conducted an eight-month investigation into colour-coated steel sheet purchase from the two East Asian countries following complaints from domestic manufacturers. The investigation found local steel sector suffered seriously losses as the imported products were being dumped from 3.45-34.27 percent.
Besides, the dumped goods exerted considerable pressure on domestic production as they affected manufacturing output, sales, revenue, benefit, market share and inventories.
Particularly, in the last seven months of 2018, many domestic firms were forced to halt production and a substantial number of workers lost their jobs.
The MoIT’s temporary anti-dumping measure is in line with the World Trade Organisations’ regulations and Vietnamese laws.
The ministry will continue working with competent authorities to review figures and organise a open consultation session. In addition, it will provide an overall assessment of the case for related parties.
The investigation will finish in Quarter 4.-VNA