Vietnam's Ministry of Industry and Trade (MOIT) has initiated a second sunset review on anti-dumping duties concerning cold-rolled stainless steel from Taiwan, Indonesia, Malaysia, and China. The review aims to assess if the termination of existing duties would result in continued or recurred dumping harmful to Vietnam's domestic industry.
On October 23, 2023, Vietnam's MOIT announced the commencement of the second sunset review for anti-dumping (AD) duties on cold-rolled stainless steel imports from Taiwan, Indonesia, Malaysia, and China. The primary objective is to determine if the termination of the existing AD measures would lead to further dumping, negatively impacting Vietnam's domestic steel industry.
The products under review are classified under several Harmonized System (HS) codes, including 7219.32.00, 7219.33.00, 7219.34.00, 7219.35.00, 7219.90.00, 7220.20.10, 7220.20.90, 7220.90.10, and 7220.90.90. These codes encompass a wide range of cold-rolled stainless steel items, emphasizing the depth of the review.
Anti-dumping duties serve as a protective measure for domestic industries against unfair competition from imported goods sold at lower prices. Vietnam's initiation of this second review indicates a proactive stance in maintaining a level playing field for its steel manufacturers.
The global steel market is fraught with volatility, and countries are increasingly resorting to measures like anti-dumping duties to safeguard their domestic industries. In this backdrop, Vietnam's review is both timely and crucial.
With a registration deadline set for interested parties until January 16, 2024, Vietnam is ensuring an inclusive and comprehensive review process. This move offers stakeholders adequate time to prepare and present their cases, thereby contributing to a more transparent and fair evaluation.
A successful review would not only protect Vietnam's domestic steel industry but could also set a precedent for other countries grappling with similar challenges in the global steel trade.
Vietnam's decision to initiate a second sunset review of anti-dumping duties on cold-rolled stainless steel from four countries is a strategic move. It aims to protect its domestic industry from unfair trade practices while offering stakeholders ample time for case preparation. The outcome could have far-reaching implications for the global steel market.