Review at the end of the period of applying safeguard measures for imported steel billets and long steel

The Trade Remedies Administration (Ministry of Industry and Trade) said that on November 4, the Ministry of Industry and Trade issued Decision No. 2323 on the final review of the application of safeguard measures to imported billet and long steel products. .

According to the Law on Foreign Trade Management, the time limit for investigation and review of the application of safeguard measures at the end of the period is not more than 6 months from the date of issuance of the decision on review. no more than 6 months.

All organizations and individuals with related interests in the case can register with the investigating authority to become a related party. Interested parties will have access to information circulating publicly during the investigation, submit comments, information and evidence related to the goods subject to review. On that basis, the Ministry of Industry and Trade will consider the opinions of all relevant parties objectively during the investigation.
On August 12, the Trade Remedies Department issued Notice No. 13 on the receipt of dossiers requesting the final review of measures. After that, this agency received a dossier requesting extension of application of safeguard measures for billet and long steel products imported into Vietnam.

At the request of the investigating authority, on October 26, the Requesting Party added information in the application file for extension of the application of safeguard measures. On that basis, the investigating authority shall certify that the application file for extension of application of safeguard measures is complete and valid.

Previously, on March 20, 2020, the Ministry of Industry and Trade decided to extend the application of safeguard measures for billet and long steel products imported into Vietnam, lasting until March 2023.

Safeguard measures for billet and long steel products will apply to products with HS code: 7207.11.00; 7207.19.00; 7207.20.29; 7207.20.99; 7224.90.00; 7213.10.10; 7213.10.90; 7213.91.20; 7214.20.31; 7214.20.41; 7227.90.00; 7228.30.10; 9811.00.00 imported into Vietnam.

Specifically, the applicable tax rates are extended from March 22, 2020 to March 21, 2023, with the tax rate decreasing year by year.

Accordingly, in the first year, the tax rate applied to billet is 15.3% and long steel is 9.4%; in the second year, the tax rate will be reduced at 13.3% and 7.9%, respectively; the third year is 11.3% and 6.4%. From March 22, 2020, if the authorities do not continue to extend the tax rate, the tax rate will return to 0%.

This case officially applies safeguard measures to billet and long steel products imported into Vietnam from July 18, 2016.

Vietnambiz