Continue to impose anti-dumping tax on stainless steel

(Baonghean.vn) - The Ministry of Industry and Trade has just issued a Decision on the results of the first review of the application of anti-dumping measures on some imported cold-rolled stainless steel products. Accordingly, the highest tax rate applied from May 14, 2016 to October 6, 2019 is up to 37.29% for Taiwanese manufacturers.

Some cold-rolled stainless steel products subject to Decision No. 1656/QD-BCT of the Ministry of Industry and Trade include the codes: 7219.32.00; 7219.33.00; 7219.34.00; 7219.35.00; 7219.90.00; 7220.20.10; 7220.20.90; 7220.90.10; 7220.90.90 imported into Vietnam from countries/territories of China, Malaysia, Indonesia and Taiwan.

The tax rate applied to each country/region is specifically applied: China from 17.47-25.35%, Indonesia is 13.03%, Malaysia is 9.55%, Taiwan is from 13.79-37.29%.

Steel production at Hoa Sen Steel Factory (Photo: Hoang Vinh)

These tax rates may be changed in case of review or extension as prescribed in the anti-dumping ordinance. The anti-dumping tax rates will be applied from May 14, 2016 to October 6, 2019 (in case these tax rates are not extended or reviewed as prescribed by law).

Previously, on September 5, 2014, the Ministry of Industry and Trade issued Decision No. 7896/QD-BCT on the application of anti-dumping measures on some cold-rolled stainless steel products, in coil or sheet form with a thickness of less than or equal to 3.5 mm imported into Vietnam from China, Indonesia, Taiwan and Malaysia.

Compared to the tax rate applied in the first period (from October 15, 2016 to May 13, 2016), the tax rate applied to stainless steel of Indonesian and Chinese enterprises has increased; the tax rate applied to Taiwanese enterprises has been maintained and only Malaysian enterprises have had their anti-dumping tax rate reduced compared to the previous time.

Stainless steel is an input material for the manufacturing of household appliances such as sinks, pots and pans, tubular furniture, hot water systems, bathtubs or car parts, and construction materials.

Also related to steel products, from March 22, 2016, steel billets and long steel products imported into Vietnam have been subject to temporary safeguard tax rates of 23.3% and 14.2%, respectively. The application period of this tax rate is within 200 days.

Thus, the continued application of anti-dumping measures on some stainless steel products will have an impact on the prices of some items made from imported stainless steel materials such as: household appliances, sanitary equipment, bathrooms, etc. and construction materials are expected to increase in price.

Cao Tam