In recent times, Canada has initiated eight trade remedy investigations against steel products imported from Vietnam, including five anti-dumping, two countervailing, and one safeguard measure. These investigations target many of Vietnam's significant steel export products/types, such as rebar, corrosion-resistant steel sheets, rolled steel, and OCTG pipes.
The reason behind Canada's initiation of these investigations is its policy to tighten monitoring and management of imported steel to safeguard the domestic market. Officials have stated that they will continue investigations and implement measures against other steel products/types from Vietnam, including steel wire.
The export value of steel wire products from Vietnam to Canada has rapidly increased in recent years. In 2020, Vietnam exported approximately 10 million USD worth of steel wire to Canada. This figure doubled in 2021 to 21 million USD and quadrupled in 2022, reaching 40 million USD.
TRAV has advised relevant associations and businesses to review their steel wire exports to the Canadian market and prepare intervention measures in case Canada initiates a trade remedy investigation.
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