Canada won’t impose anti-subsidy tax on corrosion-resistant steel imported from Vietnam

22-Oct-2020 Intellasia | VNS | 6:02 AM Print This Post

The Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade said Canada had announced the final conclusion of the anti-dumping and anti-subsidy investigation into corrosion-resistant steel sheets imported from several countries, including Vietnam.

After the investigation that began in November last year, based on information provided by the government of Vietnam, Canada has concluded the country does not subsidise enterprises producing and exporting the steel.

Therefore, it will not impose an anti-subsidy tax on these steel products imported from Vietnam. In addition, in the final decision, Canada also reduced the anti-dumping tax significantly compared to the preliminary decision.

Anti-dumping tax rates will be cut from 36.3 per cent to 91.8 per cent in the preliminary period to 2.3 per cent 16.2 per cent in the final conclusion for exporters offering full cooperation in the case.

The Trade Remedies Authority of Vietnam said Canada was assessing the damage to the domestic manufacturing industry and is expected to reach a final conclusion on November 13.

If there is no damage in the conclusion, Canada will not impose anti-dumping duties on Vietnam’s corrosion-resistant steel sheets.

When Canada initiated the investigation, the Vietnamese Ministry of Industry and Trade worked closely with ministries, branches, provincial People’s Committees, associations, and businesses to provide information for the questionnaires and fully cooperated with Canada in the entire investigation process.

After Canada issued a preliminary conclusion, the Ministry of Industry and Trade gave an official opinion on this conclusion and requested the Canadian authority keep its conclusion on subsidies and recalculate the dumping margin based on strict compliance with the trade remedies regulations of the WTO and Canada.

In addition to corrosion-resistant steel, Canada Border Services Agency (CBSA) also announced the initiation of an anti-dumping investigation on concrete reinforcing bars from Vietnam and some countries on September 22.

The investigation period is from June 1 last year to June 30 this year and the profitability analysis period is from April 1 last year to June 30 this year. The plaintiff of this case is ArcelorMittal Long Products Canada G.P, AltaSteel Inc., Gerdau Ameristeel Corporation.

In the initiation notice, CBSA required the manufacturers and exporters of the products to answer the questionnaire fully, in accordance with regulations and send it on time to CBSA.

The deadline for responding to the questionnaire is October 29.

http://bizhub.vn/news/canada-wont-impose-anti-subsidy-tax-on-corrosion-resistant-steel-imported-from-viet-nam_319557.html

 

Category: Economy, Vietnam

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