The US investigated tax evasion on stainless steel products imported from Vietnam

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The US investigated tax evasion on stainless steel products imported from Vietnam

This is the case that the US Department of Commerce initiated its own investigation based on available information on the allegations that stainless steel products are showing signs of evading trade defense measures that the US is applying to similar goods. China's self since 2016 with the tax rate is from 139% - 267%.

The Chamber of Commerce (Ministry of Industry and Trade) said that on 13/5, the US Department of Commerce announced the initiation of an investigation to apply tax evasion measures to stainless steel products imported from Vietnam.

This is the case that the US Department of Commerce initiated its own investigation based on available information on the allegations that stainless steel products are showing signs of evading trade defense measures that the US is applying to similar goods. China's self-interest since 2016 with a tax rate of 139% - 267%.

The basis for the US Department of Commerce to initiate the investigation is that Vietnamese export manufacturers import stainless steel flat materials from China and then process them in Vietnam and export them to the US and export volumes. Stainless steel sheet exports from Vietnam saw a significant increase in the period before and after the US imposed tariffs on China.

In recent years, exports of stainless steel products from Vietnam to the US have continuously decreased from 32,000 tons in 2017 to 25,000 tons in 2018 and continue to decrease to 23,000 tons in 2019. Currently, Vietnam is applying Anti-dumping duty on stainless flat rolled steel products imported from China with the level of 17.94% - 31.85%.

After initiating the investigation, the US Department of Commerce will issue a questionnaire to collect information from Vietnamese manufacturing and exporting enterprises.

The Ministry of Industry and Trade recommends businesses to participate, cooperate, prepare to provide sufficient and timely information, especially on the source of raw materials, management process to the US Department of Commerce to avoid being used. Using existing data (often disadvantage) during the investigation.

In addition, the Ministry of Industry and Trade will work closely with exporters and Vietnam Steel Association during the investigation of the case and have appropriate support and handling plans including discussions with US Department of Commerce to clarify the basis of initiating the investigation, in order to protect the legitimate rights and interests of exporters.

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