US extends conclusion of circumvention probe into local stainless steel plates
The US has unveiled an extension to the time limit for issuing the final conclusion of the anti-dumping and anti-subsidy probe into stainless steel plates originating from the nation, according to the Trade Remedies Authority of Vietnam.
This comes after the US Department of Commerce (DOC) initiated an investigation on May 15, 2020, into anti-dumping and anti-dumping duties on stainless steel plates from the country.
In line with the investigation, the DOC has conducted a probe into a scope inquiry to determine whether Vietnamese stainless steel products are subject to tax imposition or anti-circumvention behaviour.
The DOC had suspected that these products were manufactured in China and then outsourced in Vietnam before subsequently being exported to the US.
According to details provided by the Trade Remedies Authority of Vietnam, the DOC believes that there have been signs that Vietnamese steel products has been able to circumvent the US safeguard measures which had been imposed on Chinese products.
Since February, 2017, the DOC has imposed anti-dumping and anti-dumping duties of between 63.86% and 76.64% on Chinese stainless steel products, while the US‘ import tax rate applied to Vietnamese stainless steel plate is 0%.
As a means of protecting the legitimate interests of local exporters, the Trade Remedies Authority of Vietnam has therefore advised businesses to closely monitor the developments of the case, actively co-operate with the investigating agency, and provide timely feedback on the DOC’s conclusions. This should be done as well as regularly co-ordinating efforts with the authorities who are in the process of handling the case.
Moving forward, the DOC is expected to launch final conclusions of probe into the case by January 5, 2022.