Vietnam wants the US to discuss the investigation against tax evasion with steel pipes

According to the Government newspaper, at the regular press conference of the Ministry of Foreign Affairs held on August 11, responding to a reporter's question about the US starting an investigation against tax evasion of Vietnamese steel pipes, the spokesman of the Ministry of Foreign Affairs said: Le Thi Thu Hang said that recently, the Vietnam-US Comprehensive Partnership has progressed in all fields, including economic, trade and investment relations.

Vietnam is the leading trading partner of the US in Southeast Asia, and the US is also the second largest trading partner of Vietnam, with trade turnover exceeding 100 billion USD in 2021.

"The policy of promoting economy, trade and investment with the US on the basis of freedom, fairness and mutual benefit, in accordance with bilateral agreements and WTO regulations," said Ms. Le Thi Thu Hang.

Vietnam is willing and regular to discuss with the US through existing mechanisms such as the Trade and Investment Framework Agreement (TIFA) to promptly resolve arising issues, and strengthen economic ties. bilateral trade and investment, for the benefit of businesses and people of the two countries.

According to information from the Trade Remedies Administration on August 5, the US Department of Commerce (DOC) has announced the initiation of an investigation into trade remedy evasion with respect to a number of steel pipe products - mainly under HS code 7306.61 and 7306.30 imported from Vietnam.

Plaintiffs in this case, including large steel pipe manufacturers in the US (such as Nucor Corporation, Bull Moose Tube, Maruichi Steel Corporation ...) allege that Vietnam imports hot rolled steel (HRS), which is the main raw material for production. produce steel pipes from China, Taiwan (China), Korea, and India, then process and simply process them into steel pipes and export them to the US in order to avoid the respective trade remedy taxes that the US is currently imposing. Applicable to China, Taiwan, Korea, India.

According to US law, relevant parties have 30 days from the date of initiation to submit comments and provide counter-information to the US investigative agency.

Within 300 days of initiation, the DOC must issue a final conclusion of the case, which may be extended, but for a total period not exceeding 365 days.

Therefore, the Trade Remedies Department recommends that enterprises producing and exporting related steel pipe products continue to study and master the US regulations and procedures for anti-tax evasion investigation; properly and fully comply with the requirements of the US investigation agency; closely coordinate with the Trade Remedies Department throughout the course of the case.

Vietnambiz