DoC lists condition for exemption from steel tax

May 25, 2018 | 16:45

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The US Department of Commerce (DoC) has notified the exemption of measures if Vietnamese steel export enterprises prove that the exported products are made from material not using Chinese-origin substrate.

doc lists condition for exemption from steel tax

A corner of Hoa Sen-Phu My steel factory in the southern province of Ba Ria-Vung Tau. - VNA/VNS Photo Hoang Hai

This was reported by the Vietnam Ministry of Industry and Trade (MoIT).

The ministry said it would continue to coordinate with relevant businesses to meet the requirements of the DoC procedures to receive exemptions as prescribed.

Earlier on May 21, DoC had announced the conclusion in the anti-dumping investigation of the evasion of anti-dumping tariff and anti-subsidy tax on corrosion-resistant steel and cold-rolled steel imported from Vietnam.

Under which, the US Customs and Border Protection (CBP) will continue to collect anti-dumping (AD) and countervailing duty (CVD) cash deposits on imports of corrosion-resistant steel (CORE) produced in Vietnam using Chinese-origin substrate at the rate of 199.43 per cent and 39.05 per cent, respectively. CBP will also collect AD and CVD cash deposits on imports of cold-rolled steel produced in Vietnam using Chinese-origin substrate at the rate of 199.76 per cent and 256.44 per cent, respectively.

The United States announced the preliminary findings of the investigation in December 2017. According to DOC, tax was evaded for these two products from China through Vietnam to be exported to the United States.

MoIT has cooperated with the Vietnam Steel Association (VSA) and relevant businesses to closely monitor the case since the beginning of the investigation starting November 2016.

The ministry has repeatedly expressed its views on the case to the United States and asked the DoC to conduct an objective investigation in accordance with World Trade Organisation rules and US practice.

Meanwhile, VSA and Vietnamese steel makers have worked closely with the United States to clarify the origin of raw material and processes of steel production in Vietnam.

VNA

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