WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Early warnings help Vietnam mitigate trade probe impacts
Ngoc Mai 17:07, 2024/07/15
In the first six months, Vietnamese exports were the target of 252 trade remedy investigations from 24 markets, a 9% increase of 21 cases compared to the same period in 2023.

Early warning efforts and support for businesses in responding to foreign trade remedy investigations of Vietnamese exports have yielded positive results in recent times, according to the Ministry of Industry and Trade (MoIT).

 Vietnamese farm produce in the Australian market. Photo: Hoai Nam/The Hanoi Times

“Many exporting businesses have successfully proven their compliance, allowing them to avoid high tariffs or face only minimal duties. This has helped them maintain and expand their markets,” noted the MoIT in a recent report.

For instance, Vietnam has demonstrated that its exporters did not engage in acts to circumvent trade defense measures applied to third countries in the US investigation of round stainless steel wire. Australia has ended its anti-dumping investigation on ammonium nitrate, and Vietnamese solar panel exporters to the US have been temporarily exempted from trade remedy tariffs. Additionally, the official anti-dumping duties imposed by Mexico on coated steel were reduced compared to the preliminary rates.

The agency reported that in the first half of the year, several products were put on alert for potential trade remedy investigations, including paper plates, steel, and cold-rolled stainless steel. Specifically, the US investigated anti-dumping and countervailing measures on paper plates, Canada on steel wire and screws, and South Korea on cold-rolled stainless steel.

Overall, in the first six months, Vietnamese exports faced 252 trade remedy investigations (cases) from 24 markets, up 9% on year. The investigations in the first half of the year were primarily anti-dumping (138 cases), safeguard (50 cases), anti-circumvention (37 cases), and countervailing (27 cases).

Authorities attributed the increase in trade remedy investigations against Vietnamese goods to the country's effective use of free trade agreements, which have expanded and increased export volumes.

The complex global situation, slow economic recovery, and the rise in quantity and scale of Vietnamese goods have intensified competition with domestic production in importing countries, stated the MoIT.

Consequently, these countries have intensified their investigations and applied trade defense measures to protect their local industries.

Domestically, the MoIT also ramped up investigations and applied defense measures to protect local industries from the looming threat of dumped and subsidized imports. The Ministry initiated 28 trade defense investigations and applied 22 measures on imported goods.

The MoIT is applying four trade remedy measures on imported steel products and one on welding materials. It is also conducting a sunset review of anti-dumping measures on cold-rolled stainless steel and color-coated steel, with results expected in October.

The Import-Export Department under the MoIT suggested that import and export activities in the first half of 2024 continued to show positive results. Preliminary data estimated Vietnam’s total trade value at $369.6 billion, a 16% increase compared to the same period last year. Exports are estimated at $189.5 billion, up 14.2%. The MoIT forecasts that export growth for the entire year of 2024 could surpass the target of 6%.

RELATED NEWS
TAG: vietnam trade probe vietnam anti-dumping exports vietnam
Other news
14:03, 2025/02/17
Vietnam set to increase power imports
Vietnam is pushing for double-digit economic growth in the coming years, which is expected to drive annual electricity demand growth of 12-14%.
14:16, 2025/02/15
Vietnam may prioritize economic growth over inflation control: PM
It may be necessary to accept a certain level of higher inflation because injecting more money into business requires this trade-off.
15:52, 2025/02/12
Vietnam's exports at risks as US tariffs loom
The shadow of tariffs hangs over Vietnam’s trade outlook.
13:40, 2025/02/11
Vietnamese Gov’t plans to revise up 2025 GDP growth target to over 8%
The revision of this year's GDP target will help lay the foundation for double-digit growth from 2026, propelling the country into a prosperous development phase.
13:50, 2025/02/10
Number of green buildings in Vietnam doubles in 2024
Vietnam now has a cumulative total of 559 green-certified buildings. This figure far exceeds the original targets set for green buildings—80 by 2025 and 160 by 2030.
20:15, 2025/02/05
Vietnam prepares for potential global trade wars: PM
If such a situation arises, it could disrupt supply chains and shrink Vietnam’s export markets.