Vietnamese reinforcing steel exports to the United States face a major setback after US authorities imposed preliminary anti-dumping duties of nearly 122 per cent on products from Hòa Phát and its affiliated companies, while other Vietnamese exporters could face duties exceeding 130 per cent.

 

On March 10, the Trade Remedies Authority of Việt Nam under the Ministry of Industry and Trade said it had received information that the US Department of Commerce had issued a preliminary determination in its anti-dumping investigation into imports of reinforcing steel from Việt Nam.

 

Data show that exports of Vietnamese reinforcing steel to the US have increased sharply in recent years. In 2022, exports were minimal at just over 43 tonnes with a value of around US$43,000. By 2023, shipments had surged to 27,700 tonnes worth $16.8 million. The figure rose further in 2024 to about 56,400 tonnes, with export value reaching nearly $30 million.

 

The provisional duty on steel exports from Bulgaria stands at 52.8 per cent, while the rate for Egypt ranges from 34.2 per cent to 52.7 per cent. Vietnamese exporters have been advised to cooperate closely with the investigating authority in order to minimise the duty level in the final determination.

 

Under the investigation process, after issuing a preliminary conclusion the US Department of Commerce may send additional questionnaires and conduct on-site verification with Vietnamese companies to confirm information submitted during the investigation.

 

The Trade Remedies Authority has urged affected companies to carefully review the preliminary findings, consult legal counsel and prepare arguments and supporting documentation. Firms are also advised to closely monitor developments in the case, maintain full cooperation with the US authority and prepare for possible on-site verification, while coordinating with relevant domestic agencies to seek timely support if necessary.

 

Earlier this year, the US Department of Commerce also issued a preliminary determination in a countervailing duty investigation into reinforcing steel imports from Việt Nam, Algeria and Egypt.

 

Under that ruling, the provisional subsidy duty imposed on Hòa Phát and its affiliated companies was 1.08 per cent, with other Vietnamese exporters subject to the same rate. By comparison, the preliminary subsidy margin for steel imported from Algeria was as high as 72.94 per cent, while Egypt faced a rate of 29.51 per cent, significantly higher than that applied to Việt Nam. — VNS

 

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