Tiếng Việt
한국어
Bangkok, October 6, 2024 – Thailand’s Ministry of Commerce officially announced the initiation of an anti-dumping investigation concerning stainless steel products imported from Vietnam. This investigation was initiated at the request of Posco-Thainox Public Company Limited.
The stainless steel products under investigation are classified under the following HS codes:
7219.32.00.020, 7219.32.00.030, 7219.32.00.040, 7219.32.00.080, 7219.32.00.090, 7219.33.00.020, 7219.33.00.030, 7219.33.00.040, 7219.33.00.080, 7219.33.00.090, 7219.34.00.020, 7219.34.00.030, 7219.34.00.040, 7219.34.00.080, 7219.34.00.090, 7219.35.00.020, 7219.35.00.030, 7219.35.00.040, 7219.35.00.080, 7219.35.00.090, 7219.90.00.000, 7220.20.10.020, 7220.20.10.030, 7220.20.10.040, 7220.20.10.080, 7220.20.10.090, 7220.20.90.020, 7220.20.90.030, 7220.20.90.040, 7220.20.90.080, 7220.20.90.090, 7220.90.10.000, and 7220.90.90.000.
The investigation period spans from July 1, 2023, to June 30, 2024, with a preliminary investigation period from July 1, 2022, to June 30, 2023.
Reasons for Initiation
Thailand initiated this investigation upon identifying signs of dumping from Vietnamese exporters. Dumping refers to the act of selling goods in a foreign market at prices lower than their fair value, causing significant harm to domestic industries. This could lead to serious competitive challenges and even potential shutdowns for local Thai stainless steel manufacturers.
Market Impact
This investigation could have significant implications for the stainless steel markets in both Thailand and Vietnam. Should the investigation conclude with findings of dumping, Thailand may implement trade defense measures such as anti-dumping duties on imported Vietnamese stainless steel products. This would increase import costs, affecting prices and the supply chain in the Thai market.
Challenges and Solutions
This investigation poses numerous challenges for Vietnamese exporters of cold-rolled stainless steel to Thailand. To address this situation, Vietnamese businesses must exercise caution, comply with Thai regulations, and prepare comprehensive documentation to participate in the investigation. Close cooperation with legal experts and regulatory authorities will provide necessary legal support and risk mitigation.
Recommendations from the Trade Remedies Authority of Vietnam
The Trade Remedies Authority of Vietnam advises the Vietnam Steel Association (VSA) and related manufacturers and exporters to:
- Register for participation and request investigation questionnaires and related documents from Thai authorities.
- Thoroughly review the initiation notice, complaint files, and related documents, and request clarification on any ambiguous content from the investigating authorities.
- Fully and comprehensively cooperate with the investigation authorities (including responding to questionnaires and submitting written comments) throughout the entire process to avoid non-cooperation findings, which often result in higher duties.
- Ensure compliance with guidelines, procedures, and deadlines.
- Maintain communication and coordination with the Trade Remedies Authority of Vietnam for timely support.
Conclusion
This anti-dumping investigation is an essential measure by Thailand to protect its domestic stainless steel industry. It also presents an opportunity for Vietnamese businesses to improve their business processes and ensure transparency in export activities. Adherence to legal regulations and cooperation will help businesses overcome challenges and continue sustainable growth in the future.
