Tuesday, September 22, 2020 8:29:30 AM - Markets open
VN-INDEX 907.94 +6.99/+0.78%
HNX-INDEX 130.58 +1.38/+1.07%
UPCOM-INDEX 60.74 +0.15/+0.25%
US initiates investigation into Vietnamese tyre
VietNam+ - 6/27/2020 1:53:18 PM
 (0 ratings. You must sign in to rate.)
The US Department of Commerce (DOC) has announced an investigation into alleged dumping of tyre imports from Vietnam, according to the Ministry of Industry and Trade (MoIT).
The DOC said it was also initiating a countervailing duty (CVD) investigation of imports of passenger vehicle and light truck (PVLT) tyres from Vietnam.
The investigation was initiated following an application filed in May and lodged by the United Steelworkers (USW) representing workers at US tyre plants.
The department said the alleged dumping margins range from 106 to 217.5 percent for Thailand, 43 to 195 percent for the Republic of Korea, 21 to 116 percent for Taiwan, and 5 to 22 percent for Vietnam.
The MoIT’s Trade Remedies Authority of Vietnam (TRAV) said it has worked with ministries and businesses to provide the US with the most accurate information on development policies of the rubber industry, production costs and selling prices of tyre producers.
Last year, the US imported tyres worth 4 billion USD from the four countries and territories. Of which, export turnover from Vietnam was 500 million USD. Tyre exports to the US increased by 20 percent in comparison with those of 2017.
TRAV said trade-restrictive measures, notably anti-dumping and anti-subsidies, have increased rapidly recently. In the first half of this year, the ministry dealt with 176 trade defence cases applied by foreign countries to goods exported from Vietnam.
It has sent warnings to localities and businesses to be cautious in their exports, especially when there was a surge in turnover.
The ministry asked the Vietnamese exporters to provide information to the US and answering questionnaires timely.
The investigations were expected to be carried out within 12 months and could extend another six months. During the investigation, the DOC may make preliminary conclusions and apply provisional anti-dumping and countervailing measures.
Most recently, the US Department of Commerce (DOC) initiated an anti-dumping and countervailing duty investigation on Chinese plywood products imported from Vietnam on June 17.
Export turnover of this product to the US was about 300 million USD last year./. 
Read original article here
Older News
03/12 Vietnam’s economy stays positive amid global growth slowdown: PM
02/11 EVFTA must bring benefits to people: INTA chief
02/10 Phones and components lead in January-September export turnover
31/08 CPTPP promises stronger ties with Singapore, Malaysia: workshop
31/08 Asanzo cleared of origin fraud: VCCI
28/07 Exporting firms should focus on intellectual property
21/07 VN has trade surplus of about $1.6 billion in H1
Newsletter Signup
Top Stories
Reference exchange rate down 5 VND on September 15
Construction steel sales projected to recover in year-end months
HVN: Vietnam Airlines increases flights from/to Da Nang
Local ETFs draw foreign attention
Plastics industry shrugs off pandemic, interests stock investors
Market Update
Last updated at 3:10:12 PM
VN-INDEX 907.94 +6.99/+0.78%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.