Vietnam's Ministry of Industry and Trade (MOIT) has announced that it has decided to impose temporary safeguard measures on steel billets and bars imported into Vietnam.
Accordingly, Vietnam will impose temporary safeguard duties of 23.3 percent on steel billets and 14.2 percent on long steel products for a maximum of 200 days. However, the safeguard measures will not be applied to developing countries, if the country’s share of total imports of the product is less than three percent of Vietnam’s total imports.
The safeguard investigation was initiated upon a complaint filed by domestic producers Hoa Phat Steel JSC, Southern Steel Corp., Thai Nguyen Iron and Steel JSC and Vietnam Italy Steel, claiming that these imports have caused injury to the domestic industry.
The products in question currently fall under Customs Tariff Statistics Position Numbers 7207.11.00, 7207.19.00, 7207.20.29, 7207.20.99, 7224.90.00, 7213.10.00, 7213.91.20, 7214.20.31, 7214.20.41, 7227.90.00, 7228.30.10, and 9811.00.00.