The Malaysian government has decided to impose anti-dumping duty on steel products imported from Vietnam including alloy and non-alloy cold rolled steel.
Anti-dumping duties will be applied on steel products originated from Vietnam
According to Vietnam News Agency (VNA), on January 23, Malaysia’s Ministry of Industry and International Trade (MITI) announced that the Malaysian Government had decided to impose anti-dumping duties on imported cold-rolled and non-alloy steel coil products imported from Vietnam.
This decision was made on the basis of the results of the investigation and review commenced on July 28, 2020 according to a lawsuit filed by Mycron Steel CRC Sdn Bhd as a representative of enterprises for Malaysian steel manufacturers.
According to the anti-subsidy and anti-dumping tax law of 1993 and the regulation on anti-subsidy and anti-dumping tax 1994, MITI confirmed that the Malaysian government determined that the dumping margin was changed with cold rolled coils and non-alloys steel originating or exporting from Vietnam.
Therefore, Malaysia will impose a 7.42% tax on POSCO Vietnam’s products, while the products of China Steel Sumikin Vietnam Joint Stock Company and other steelmakers will be subject to a tax rate of 33, 7%. The Royal Malaysia Customs Department will be responsible for applying this new tax rate from 24/1 – 23/5/2021.
Many of Vietnam’s steel products have been imposed high tax rate
Recently, many steel products of / origin from Vietnam have been imposed by Malaysia anti-dumping tax with relatively high tax rate.
In December 2019, MITI decided to impose anti-dumping tax with a 5-year statute of limitations on POSCO Vietnam’s products at 7.7% while products from other steel enterprises in Vietnam will be subject to a tax of 20%.
On December 23, 2020, MITI announced that aluminum and zinc-coated flat-rolled steel products imported from Vietnam were subject to anti-dumping duties imposed by the Malaysian Government for 5 years from December 2020 till November 2025 with amplitude from 3.06% to 37.14%.
Most recently, from December 28, 2020, cold-rolled stainless steel products originating from Vietnam exported to Malaysia were also imposed by local authorities with a temporary anti-dumping tax of 7.73% to 34.82% within 120 days.
Source: Business
