The United States imposes high tariffs on Vietnam's imports of steel products originating in China

Release time：Jun 28, 2019 From：admin

The U.S. Department of Commerce on Monday imposed high anti-dumping and countervailing duties on imports of steel products originating in China from Vietnam. Previously, the Ministry of Commerce finally decided that these products circumvented the anti-dumping and countervailing regulations of the United States.

This decision marked a major victory for the American steel industry, which won the anti-dumping and anti-subsidy tariff rulings on Chinese steel in 2015 and 2016, but steel products were instead flowing into the United States in large quantities from other places. American steelmakers claim that Chinese steel products are transferred to other countries to avoid tariffs.

In a statement, the U.S. Department of Commerce said that customs authorities would impose 199.76% anti-dumping duty and 256.44% anti-subsidy duty on Vietnam's imports of cold-rolled steel raw materials originating in China.

The statement also said that imports of corrosion-resistant steel from Vietnam would also be subject to 199.43% anti-dumping duty and 39.05% countervailing duty.

The Ministry of Commerce has indicated that the same anti-dumping and countervailing duties will be imposed on Vietnamese corrosion-resistant steel and cold-rolled steel originating from China's hot-rolled steel.

In addition, the Trump government implemented a national security survey on steel and aluminium imports under Clause 232, which levied a 25% tariff on most steel imports to the United States.

Although the newly imposed anti-dumping and countervailing duty on steel is anticorrosive or cold-rolled in Vietnam for use in automobiles and household appliances, the Ministry of Commerce has adopted the American manufacturer's statement that 90% of the value of the steel is formed in China.

Since China imposed anti-dumping duties on steel products in 2015, U.S. exports of cold-rolled steel imported from Vietnam have surged from $9 million to $215 million annually and stainless steel imports from $2 million to $80 million, the Ministry of Commerce said.

The lawsuit stems from appeals filed by U.S. producers such as MT. AS, Nucor (NUE. N), AK Steel Holdings Corp (AKS. N) and United States Steel (X. N) that Chinese producers began "immediately" transferring steel to Vietnam after the introduction of tariffs.