Vietnam imposes highest rate of anti-dumping duties on Chinese aluminium products
According to a recent report, the Ministry of Industry and Trade (MoIT) has decided to officially impose the highest rate of anti-dumping duties on aluminium products from 16 Chinese producers. While six Chinese exporters will face the duty of 35.58 per cent, eight between 18.16 per cent and 35.39 per cent, the final two will face a rate of less than 10 per cent.
The anti-dumping duties will be imposed on those aluminium products which are used for making industrial machines and structures, aluminium doors, wattle walls, storage cabinets and interior and exterior decorations and in construction as well.
In January, the MoIT had investigated into aluminium imports from China and its impact on domestic manufacturers following the regulations from the World Trade Organisation and Foreign Trade Management Law.
The investigation found that Chinese aluminium was dumped at a margin of 2.49 per cent to 35.58 per cent. In some cases, the prices of Chinese products were much lower than the production cost of the products in Vietnam. As a result, the domestic aluminium industry suffered in recent years, causing losses to many businesses and forcing employees to quit their jobs.
On June 5, after a five-month investigation, the MoIT temporarily applied the lowest anti-dumping rate of 2.46 per cent on the Chinese aluminium products. Last year, the import amount of aluminium extruded bars from China to Vietnam reached 62,000 tonnes, double that of 2017. However, the figure excluded a large volume of imports to processing zones. Imports from other countries fell to 5,000 tonnes in 2018.
The MoIT believes the imposition of anti-dumping duties this time will help reduce pressure on Vietnam’s domestic manufacturing enterprises and avoid tax-evading products from China.
According to regulations, anti-dumping measures will take effect within five years from the effective date of September 28.
source: ALCIRCLE.COM
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