Concerns are rising that tariffs, which ended in 2022, may be reinstated as Vietnam launches an anti-dumping investigation into galvanized steel sheet products from Korea and China.
According to Yonhap News and local Vietnamese media on the 17th, Vietnam's Ministry of Industry and Trade has decided to initiate an anti-dumping investigation following claims by local companies that certain galvanized steel sheet products from Korea and China were sold at dumping prices, causing serious damage to domestic manufacturers.
The Ministry of Industry and Trade plans to evaluate whether dumping has occurred through investigations of related companies and issue a preliminary ruling. There is also speculation that temporary anti-dumping measures may be imposed as a result of the investigation.
Previously, the Vietnamese government imposed anti-dumping tariffs on galvanized steel sheets from Korea and China for five years from April 2017 to 2022. At that time, the anti-dumping tariff rates were 7.02% for POSCO and 19.0% for other Korean companies. Chinese steel companies faced anti-dumping tariffs ranging from 3.17% to 38.34%.
Korean companies have been exporting galvanized steel sheets used in the manufacture of automobiles, home appliances, and ventilation ducts to Vietnam.
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