Monday, June 17, 2024 2:43:57 PM - Markets open
VN-INDEX 1,272.84 -7.07/-0.55%
HNX-INDEX 243.10 -0.86/-0.35%
UPCOM-INDEX 97.77 -0.29/-0.30%
Canada imposes temporary anti-dumping duties on wire products from Việt Nam
Vietnam News - 6/10/2024 4:03:01 PM
 (0 ratings. You must sign in to rate.)
The Trade Remedies Authority of Việt Nam (TRAV), under the Ministry of Industry and Trade, has been told that the Canada Border Services Agency (CBSA) has issued a preliminary conclusion on the investigation of applying anti-dumping measures for wire rod products originating or exported from China, Egypt and Việt Nam.
 
As a result, the temporary anti-dumping duty rate for Vietnamese steel companies is now up from 6.1 per cent to 38.9 per cent, compared to Chinese enterprises, 50.9 per cent - 71.1 per cent and Egypt, 49.7 per cent - 99.8 per cent.
 
TRAV said that the full details that the CBSA used to make its decision, would be issued within 15 days and posted on the CBSA website, at www.cbsa-asfc.gc.ca/sima.
 
The Canada Border Services Agency is continuing the investigation process and is expected to issue a final conclusion on September 4 this year.
 
The CBSA initiated an investigation on March 8 to apply anti-dumping duties on steel wire products originating or exported from China and Egypt and Việt Nam.
 
Specifically, the investigation concerns wire rods with HS code: 7213.91.00.42; 7213.91.00.43; 7213.91.00.49; 7213.91.00.50; 7213.91.00.60; 7213.91.00.70; 7213.99.00.11; 7213.99.00.12; 7213.99.00.31; 7213.99.00.32; 7213.99.00.51; 7213.99.00.52; 7227.20.00.20; 7227.20.00.90; 7227.90.00.60; 7227.90.00.70; 7227.90.00.81; 7227.90.00.82; 7227.90.00.83.
 
The plaintiff is Ivaco Rolling Mills 2004 LP. The CBSA will issue a preliminary finding within 90 days of initiation.
 
In addition, the Canadian International Trade Tribunal (CITT) will decide if any damages need to be awarded due to any injury caused to Canada's domestic industry. The conclusion for that is expected within 60 days from the initiation date. In case CITT concludes there is no damage, the case will be terminated.
 
Based on the Canadian trade investigation, TRAV recommends that businesses register as related parties to receive the investigation questionnaire and information from the Canadian investigation agencies; read the instructions carefully, answer fully and provide information within the prescribed time limit; co-ordinate closely with the TRAV to receive timely support.
 
Statistics from Trademap show that Việt Nam's export turnover of steel wire products to Canada has increased rapidly in recent years.
 
Việt Nam exported around US$10 million of steel wire to Canada in 2020. The export turnover of this product more than doubled to $21 million in 2021 and reached about $40 million in 2022. — VNS
 
Read original article here
Newer News
15/06 China’s Guangxi province eyes to expand economic cooperation with Việt Nam
15/06 Quảng Ninh posts fourth fastest growth in Red River Delta
10/06 Policy on business registration to be revised
10/06 State budget revenues from import-export grow 7.4% in five months
Older News
05/06 Việt Nam's State budget collection up nearly 15 per cent in five months
05/06 Businesses pivot to neighbouring markets due to uncertainties elsewhere
05/06 Việt Nam leads the region in attracting long-term investment into innovative start-ups
27/05 MoIT to step up talks on new FTAs
25/05 Criteria for assessing FDI announced
25/05 VN’s automobile industry still faces challenges in implementing FTAs
13/05 Việt Nam's wood industry strives to match sustainable wood demands
13/05 Việt Nam's data centre sector is attractive to foreign investors
13/05 Businesses and people expect VAT cut extension to be approved
13/05 VN ranks second in the world in cryptocurrency ownership rankings
 
Newsletter Signup
Top Stories
Surge in newly opened securities accounts recorded in May
VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
Interest rates to rise but not have major impact on stock market: economist
Businesses concerned about rising exchange rate pressure
Market Update
Last updated at 2:35:01 PM
VN-INDEX 1,272.84 -7.07/-0.55%
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...
Portfolio
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.