return icon Vietnamnet.vn

Trade remedies imposed on Vietnamese goods surge

Vietnam was among four countries worldwide subject to the largest number of trade remedies from January to September 2020, according to the Ministry of Industry and Trade.

{keywords}
Workers process seafood for export in the Mekong Delta city of Can Tho. Seafood is one of Vietnam’s products subject to the largest number of trade remedies – Photo: Trung Chanh/SGT

The number of trade remedies imposed on Vietnamese goods in nine months doubled that of last year, with the most affected products being steel, aluminum, seafood, wood and construction materials, which are also the country’s key export products.

The Ministry of Industry and Trade is keeping a close watch on the export of key products, especially those that are being investigated or subject to trade remedies. The ministry has published a list of 13 at-risk products on its website and the list will be updated regularly.

As of late September, the ministry has reported 193 trade remedies on Vietnamese goods, including 108 anti-dumping cases, 22 anti-subsidy cases, 23 tax evasion cases and 40 safeguard cases. Sixty-two percent of the cases were from the United States, the EU, India, Canada and Australia.

Speaking to Thanh Nien newspaper, director of the Trade Remedies Authority of Vietnam Trieu Dung noted that trade remedies have affected Vietnamese goods worth some US$12 billion since the first case was reported in 2003. Vietnam has appealed successfully in 65 of the cases.

Dung stated that the number of trade remedies imposed on Vietnamese goods would definitely increase in the time to come. The Trade Remedies Authority has worked with 12 trade associations to help Vietnamese businesses avoid or resolve problems related to trade remedies.

According to an international trade expert, the increase in the number of trade remedies is understandable in the context of the rising protectionism worldwide and it is also proportional to Vietnam’s import and export revenue.

“When a country opens a safeguard investigation into a Vietnamese product, it means Vietnam’s increasing exports of the product are putting pressure on the country’s domestic production,” he explained.

Trade remedies are a tool to protect domestic production and, as such, Vietnam is imposing trade remedies on the fertilizers, steel and other products of several countries. SGT

MoIT helps enterprises deal with increasing trade remedy cases

MoIT helps enterprises deal with increasing trade remedy cases

Vietnam’s export goods face more trade remedies in the process of deep economic integration, so the Ministry of Industry and Trade has developed solutions for the situation.  

Businesses must understand trade remedy implications, says expert

Businesses must understand trade remedy implications, says expert

International trade remedies are used by many countries to protect their domestic industries, especially now production has stalled due to the impacts of COVID-19.

MORE NEWS

Vietnam among world's worst performing stock markets in first half

In the first half of 2022, both market's benchmark index and liquidity plunged sharply, with the VN-Index posting a dip of over 20 per cent, making it one of the world's worst-performing stock markets.

Vietnam, Thailand to soon resume commercial flights

Vietnam and Thailand should soon restore commercial flights and open new routes to facilitate tourism and trade cooperation between the two countries.

VIETNAM BUSINESS NEWS JULY 4

Vietsovpetro launches two support sets of Dragon oilfield

New milestone in Vietnam’s relations with Hungary, UK

The five-day visits of Vietnam’s National Assembly Chairman Vuong Dinh Hue to Hungary and the UK marked a new milestone in bilateral relations, eventually contributing to the Vietnam-EU partnership.

Vietnam remains among major global production facilities

The nation continues to be "named" in the list of major global production facilities, with six-month export turnover reaching US$185.94 billion, marking a year-on-year rise of 17.3% and a trade surplus of more than US$ 700 million.

Steering committee established to boost economic recovery effort

The Government has established a steering committee for the deployment of the country’s economic recovery and development program, led by Deputy Prime Minister Le Minh Khai.

Entertainment and cultural events of the week (July 4-10)

Upcoming entertainment and cultural events in Vietnam's major cities on July 4-10/2022.

Kim Duyen wins Supra Model Asia at Miss Supranational 2022

Kim Duyen - Vietnamese representative at Miss Supranational 2022 - qualified in the top 11 Supra Chat and was awarded the title of Supra Model Asia of Miss Supranational 2022.

VN Trade Promotion Department lauds ASEAN export opportunites

Vietnamese businesses have many opportunities to increase export goods to Thailand, Laos and Cambodia, according to the Trade Promotion Department of the Ministry of Industry and Trade.

New policy boosts insurance market's long-term development

The newly-issued Law on Insurance Business is expected to positively impact the insurance market's long-term development.

Rules on business in prize electronic games for foreigners

The Ministry of Finance has issued a circular guiding the implementation of some articles of the Government’s Decree No. 121/2021/ND-CP on business in prize electronic games for foreigners in Vietnam.

Vietnam wins 13 awards at “Two country circuit” photo contest

Vietnamese photographers have won 13 medals and certificates of honour in travel, portrait and free categories at the 7th “Two Country Circuit” photo contest 2022.

True Italian Taste 2022 promotes Italian cuisine in VN

True Italian Taste 2022, a project aiming to promote authentic Italian cuisine to the world, has kicked off in Vietnam.

Who will work when so many public-sector staff have been disciplined?

“No need to worry that the country won’t have cadres to work," said Party Secretary General Nguyen Phu Trong.

Labour export to South Korea temporarily halted for eight localities

The Ministry of Labour, Invalids and Social Affairs (MoLISA) has announced that the labour migration programme with South Korea will be temporarily suspended for eight districts, towns and cities.
back_to_top