- Tariffs target Vietnam’s cold-rolled stainless steel products
- Duties aim to protect Thailand’s domestic stainless steel industry
SteelDaily: The Thailand government has decided to impose anti-dumping duties of up to 29.4% on cold-rolled stainless steel products imported from Vietnam. This measure, effective immediately, will last for five years. The Anti-Dumping and Subsidy Review Board under Thailand’s Ministry of Commerce concluded that Vietnamese stainless steel products were being sold in Thailand at dumped prices, causing substantial injury to the domestic industry.
Under the ruling, two Vietnamese companies-Yongjin Metal Technology and Tan Viet Metal Technology Company Limited—will face a tariff of 9.95% based on the CIF (cost, insurance, and freight) price. All other Vietnamese exporters will be subject to a much higher uniform tariff of 29.4%. This significant gap in tax rates is expected to heavily impact the export competitiveness of many Vietnamese stainless steel manufacturers.
The affected products include cold-rolled stainless steel flat-rolled products with thickness between 0.3 mm and 3.0 mm and widths up to 1320 mm, encompassing about 30 categories under HS codes 7219 and 7220. Insiders interpret Thailand’s actions as part of an increasing trend of trade protectionism in Southeast Asia’s stainless steel market. Vietnamese products have gained significant market share in Thailand due to competitive pricing, but these tariffs are expected to limit their market access substantially.
While the anti-dumping duties may provide short-term relief and profitability for Thailand stainless steel producers, some experts caution that they could lead to higher raw material costs for Thailand manufacturers in the long run. This concern is prompting Thailand importers to explore alternative suppliers, including Indonesia, to mitigate increased costs.
Note: This article has been published in accordance with a content exchange agreement between SteelDaily and BigMint.
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