Canada removes anti-subsidy duties on Vietnamese corrosion-resistant steel

Wednesday, October 21, 2020  10:05

Vietnamese corrosion-resistant steel is likely to be exempt from anti-subsidy duties in Canada

VOV.VN - The Ministry of Industry and Trade have revealed that Canada will not impose anti-subsidy duties on corrosion-resistant steel that originates or has been imported from Vietnam and will instead impose a substantial reduction on anti-dumping taxes on Vietnamese enterprises.

The move comes following relevant Canadian authorities concluding that the Vietnamese Government has not subsidised local enterprises to produce and export corrosion resistant steel, also known as galvanised steel or COR.

In line with the new adjustments, anti-dumping taxes faced by Vietnamese businesses will be reduced from 36.3% and 91.8% in the preliminary phase of the investigation to between 2.3% and 16.2%, respectively, in the final conclusion.

Canada is set to reach a conclusion on damage following investigations from now to November 13. In the event that no damage has been reported, it will decide not to impose anti-dumping duties on Vietnamese COR steel.

VOV