Accordingly, the provisional anti-dumping duty rate applied to Vietnamese steel companies was increased from 6.1% to 38.9%. For Chinese companies, this rate varies between 50.9% and 71.1%, while for products from Egypt it varies between 49.7% and 99.8%.
CBSA opened an investigation on March 8 to impose anti-dumping duties on wire rods originating or exported from China, Egypt and Vietnam. The investigation specifically concerns wire rods with certain HS codes. CBSA is continuing the investigation process and the final result is expected to be announced on September 4.
The Canadian International Trade Tribunal (CITT) will decide whether compensation should be paid for any damage caused to Canada's domestic industry. This decision is expected within 60 days from the start date. If the CITT concludes that no harm has been caused, the case will be terminated.
Vietnam's exports of steel wire products to Canada have increased rapidly in recent years. Vietnam exported approximately USD 10 million worth of steel wire to Canada in 2020. The export turnover of this product more than doubled in 2021, reaching USD 21 million, and rising to approximately USD 40 million in 2022.
These developments could be an important turning point for Vietnamese steel exporters and could be instrumental in shaping the industry's future export strategies.
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