Vietnam lifts AD duties on steel imports from China, Taiwan, Malaysia and Indonesia

Vietnam has officially lifted its anti-dumping (AD) duties on cold-rolled stainless steel imports from China, Taiwan, Malaysia, and Indonesia, effective October 26, 2024. This decision concludes a five-year imposition period that began in 2019.

Vietnam first introduced these duties in 2014, targeting imports from the countries above. For Taiwanese manufacturers, the initial tariff was 13.79%, which significantly increased to 37.29% with the 2019 review—marking the highest AD rate among the four affected regions.

Industry participants believe that removing these tariffs could provide a short-term boost to Taiwan’s exports to Vietnam. However, they also note that the benefits will extend similarly to producers in China, Malaysia, and Indonesia. The competitive landscape among these nations could reshape as all four regain unfettered access to the Vietnamese market.

Adding complexity to the situation is the growing production output of Vietnam’s own stainless-steel producers, particularly Yongjin. This domestic increase might influence future export opportunities and market strategies for foreign producers, including those from Taiwan. Market analysts suggest that Taiwan’s export dynamics to Vietnam will need close monitoring in the coming months to gauge the longer-term impact of the lifted duties.

The products affected by this change are classified under the following HS codes: 7219.32.00, 7219.33.00, 7219.34.00, 7219.35.00, 7219.90.00, 7220.20.10, 7220.20.90, 7220.90.10, and 7220.90.90.