Recently, the Ministry of Industry and Trade of Vietnam has issued Decision No. 693/QD-BCT on extending the application of anti-circumvention measures to trade remedies for coil and wire steel products imported into Vietnam.
On July 18, 2016, the Ministry of Industry and Trade issued Decision No. 2968/QD-BCT on the application of global safeguard measures to billet and long steel products imported into Vietnam.
On May 13, 2019, the Ministry of Industry and Trade issued Decision No. 1230/QD-BCT on the application of measures to prevent circumvention of trade remedies for coil and wire steel products with HS code: 7213.91.90, 7217.10.10, 7217.10.29, 7229.90.99, 9839.10.00 imported into Vietnam.
On March 21, 2023, the Ministry of Industry and Trade issued Decision No. 691/QD-BCT on extending the application of safeguard measures to imported long steel products.
On the same day, the Ministry also issued Decision No. 693/QD-BCT on extending the application of anti-circumvention measures against trade remedies for coil and wire steel products imported into Vietnam.
Extension of the application of anti-circumvention measures of trade remedies for coil and wire steel products imported into Vietnam
According to Decision No. 693/QD-BCT, Vietnam will extend the application of anti-circumvention measures against trade remedies for products with HS codes: 7213.91.90, 7217.10.10, 7217.10.29, 7229.90. 99,9839,100,000 imported into Vietnam with a specific duty rate.
Accordingly, within one year from March 22, 2023, the applicable duty rate will be 6.3%; one year from 22 March 2024, the applicable duty rate is 6.2%; one year from 22 March 2025, the applicable duty rate will be 6.1% and will be 0% from 22 March 2026.
In case individuals and organizations are exempted from application of trade remedies specified in Article 10 of Circular 37/TT-BCT, they may submit an application for exemption from application of anti-circumvention measures to the Trade Remedies Authority – Ministry of Industry and Trade of Vietnam.
Documents in the application for exemption from application of anti-circumvention measures are specified in Clause 1, Article 14 and Appendix 3 of Circular 37/TT-BCT.
Information on the Decision, Notice of extension of application of anti-circumvention measures of trade remedies for imported coil and wire steel products can be downloaded here.
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