Vietnam to slap antidumping tariff on aluminum from China
Vietnam to slap antidumping tariff on aluminum from China
Vietnam will impose an official antidumping duty on some aluminum products from China from October 4, the local media quoted the Ministry of Industry and Trade as saying in a statement on September 28.
The antidumping tariff ranges from 2.49% to 35.58% on some extruded aluminum bar imports from China. As many as 16 Chinese producers had earlier been investigated as part of an antidumping probe in January.
The Ministry of Industry and Trade had investigated the aluminum products being imported from China, with the period for assessing damage stretching from January to December 2018.
The results of the probe indicated that the local aluminum sector had suffered heavy losses as Chinese aluminum products were being dumped on the market, resulting in falling profits, squeezed prices and increased inventories.
The investigation met all the requirements set out by the World Trade Organization and the Foreign Trade Management Law, as well as relevant regulations.
Therefore, the ministry issued a decision slapping an antidumping duty on these aluminum products from China to minimize losses faced by local manufacturers, mainly those on the edge of bankruptcy.
Last year, the volume of extruded aluminum bars imported from China to Vietnam reached 62,000 tons, double that seen in 2017.
Meanwhile, the purchase of aluminum products from other markets has reportedly dropped over the past few years.
A source of the ministry said that the imposition of the antidumping tariff was aimed at safeguarding the interests of consumers, local producers and industries that use aluminum bars.
Antidumping margins will be set appropriately for foreign producers and exporters whose products meet requirements on information, price and quality, the representative said, adding that low-quality goods will be subject to high antidumping duties.
The government has directed the relevant agencies to closely control and prevent the import of low-quality aluminum products to limit negative consequences for local production and the construction sector.
