13 commodities at risk of trade remedies
13 commodities at risk of trade remedies
The Ministry of Industry and Trade has published a list of 13 export products that may be subject to trade defense investigations in the United States, the European Union and Canada, with plywood at the highest warning level.
The ministry has established four warning levels. At levels three and four, control over the product should be tightened and enterprises producing and trading it should be inspected regularly, news site Vietnamplus reported.
At levels one and two, the competent agencies should continue keeping a close watch on the products.
In November last year, the U.S. Customs and Border Protection launched an investigation into the evasion of trade remedies and imposed interim measures on Vietnam’s plywood due to suspicion that Finewood Vietnam was evading trade remedies.
According to the General Department of Vietnam Customs, Vietnam’s plywood exports stateside, worth US$25.6 million, faced trade defense investigations in the first five months of the year.
Six products on the recently released list are at level three: artificial stone, iron shelves, foam cushions, electric bicycles, truck and coach tires and corrosion-resistant steel.
For artificial stone, in the January-May period, the export value of the product from China to the United States plunged 89% from US$216.5 million to US$23.6 million, while that of Vietnam increased 20% year-on-year from US$21.6 million to US$26.1 million.
Moreover, stainless steel, hot-rolled steel sheets, cast iron products and synthetic fibers are at warning level two, while ribbons are at level one.
On July 2, the U.S. Department of Commerce announced the preliminary results of its antidumping and antisubsidy investigations into Vietnam’s corrosion-resistant carbon steel and cold-rolled steel using materials from Taiwan and South Korea.
In 2015, the United States also started three similar investigations into these products from Taiwan and South Korea.
