The application was received on June 24 and the notice of initiation was issued on August 8. The applicant is the European Steel Association and the product under investigation is hot-rolled steel.
Appropriate and timely trade measures, following Việt Nam''s and World Trade Organization''s (WTO) regulations, will help the domestic steel industry minimise damage caused by unfair competition practices and protect local production, said industry leaders.
The Ministry of Finance has postponed its plan of increasing the most-favoured nation (MFN) tariff on imported hot rolled steel coil (HRC) from zero per cent to 5 per cent after collecting opinions from businesses and experts.
Viet Nam’s steel industry will be able to produce enough hot-rolled steel in 2018 to meet local demand. Before, the nation had to import millions of tonnes of hot-rolled steel products every year.
