HCMC – The United States has received a petition from U.S.-based steel producers demanding a tax-fraud probe into several steel pipe products imported from Vietnam.
According to the Trade Remedies Authority of Vietnam, Vietnamese steel products mentioned by the U.S. Department of Commerce (DOC) are square steel tubes and round carbon steel pipes, the local media reported.
The petitioners include Nucor Corporation, Bull Moose Tube and Maruichi Steel Corporation, blaming Vietnam for importing hot rolled steel, which is the main material for steel pipe production, from China and South Korea, to simply process it into steel pipe products and export them to the United States.
The action is aimed at evading trade remedy measures levied on China and South Korea by the U.S., according to the petition.
Since 2008, the United States has been imposing respective anti-dumping duties of up to 86% and 265% on square steel pipes and round carbon steel pipes imported from China, and anti-subsidy taxes of 30%-616% and 2.2%-201% on these products.
Meanwhile, anti-dumping duties having been imposed on round carbon steel pipes imported from South Korea are 4.91%-11.63% since 1992.
Statistics from the United States International Trade Commission indicate that last year, the total value of these Vietnamese steel pipes shipped to the U.S. market was over US$57 million.
Pursuant to the U.S. regulations, within 30 days after receiving a petition, DOC will decide to launch a probe. As such, the Trade Remedies Authority told Vietnamese steel firms to review their export operations and brace for an investigation from the U.S.