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Mexico is a country with a growing manufacturing industry, particularly in the automotive, construction and machinery sectors. As such, there's a significant demand for steel. According to Statista's report, in 2022, Mexico imported approximately 10.64 million tons of various finished steel products. This trend is projected to continue due to the stabilization and recovery of the global economy. Many Mexican companies have chosen to import steel from Vietnam as a trustworthy and quality source. Let's explore with MRS Steel the reasons why Mexico should consider importing steel from Vietnam.1. Overview of Mexico's Steel MarketAccording to the Association for Iron & Steel Technology, Mexico's steel production may reach 19.5 million tons in 2023, marking a 7.1% increase. Leading steel companies in Mexico include Altos Hornos de México (AHMSA), Ternium México, and Deacero, which specialize in products like stainless steel, cold-rolled steel, hot-rolled steel, and construction steel, greatly influencing the diversity and quality of steel in the Mexican market. However, due to various reasons such as market fluctuations, consumption demand, production capacity, or production costs, companies have to seek additional steel supplies from abroad, including Vietnam.2. Should Mexico Import Steel from Vietnam?Vietnam is a familiar and preferred steel import market for Mexican customers because of the following substantial advantages:Competitive PricingVietnam offers more competitive steel prices compared to many other countries due to its low production costs and large production scale. Rich in natural resources and minerals, Vietnam always has an abundant supply of raw materials. The country's cheap labor also provides an optimal condition to minimize costs.Consistent QualityIn recent years, Vietnam has consistently invested in advanced manufacturing technology, directly importing from the world's largest metallurgical equipment brands such as Danieli and Tennova. FDI-funded projects and steel mills enhance production capacity, catering to both domestic and international demands. Today, Vietnamese steel products meet the quality standards of demanding markets like the USA, Europe, Australia, and Japan,...Favorable Trade RelationshipsBoth Vietnam and Mexico are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This membership promotes positive trade relations, with Vietnam benefiting from a 0% tariff rate for many steel products, including flat-rolled, galvanized, plated, and coated steel when exported to Mexico.Rational Trade Defense MeasuresMexico has implemented numerous trade defense measures against steel imports to prevent dumping. The International Trade Practices Unit (UPCI) of Mexico's Ministry of Economy imposed anti-dumping duties on steel products from countries like China, Taiwan, France, and Germany, with rates as high as 78.96%. Investigations against galvanized and color-coated steel products from Vietnam began in August 2021. However, thanks to the efforts of the Vietnamese government, Mexican importers enjoy much lower anti-dumping duties compared to other countries, with rates ranging from 0-12.34% (effective from September 14, 2022).Advantages in Shipping ProcessVietnam's strategic location with over 3,200 km of coastline enables direct shipping to many countries without transit. The country is investing in building major ports to enhance cargo handling capacity and reduce waiting times. Numerous direct sea routes between Vietnam and Mexico, coupled with free trade agreements with various countries and regions, minimize trade barriers and bolster maritime transport relations. Thus, steel orders from Vietnam to Mexico are promptly delivered at optimized costs.3. Reputable and Quality Suppliers of Vietnamese SteelWhile Vietnamese steel is known for its quality and affordability, to find a reputable and quality source, customer must understand the domestic market and manufacturing mills. To save time and cost in sourcing, many importers have approached MRS Steel for A-Z assistance.With over 12 years of experience, MRS Steel specializes in sourcing steel exports to numerous countries. Their vast network includes the largest steel producers in Vietnam, enabling customers to access the most suitable products. Moreover, MRS Steel's experienced team collaborates with factories, customs, shipping entities, and other stakeholders, ensuring a smooth and easy steel import process from Vietnam.In conclusion, MRS Steel has highlighted why Mexico should consider importing steel from Vietnam, as it's an ideal choice for affordable, high-quality, and diverse steel products. For any steel import quotations, Mexican clients are welcome to contact vanloc@mrssteel.com.vn for the best assistance.

Anti-dumping duty has applied to imported goods with a value lower than the fair market value. The government imposed this duty to protect the market and domestic producers from dumping cheap imports. So what exactly is anti-dumping duty and how is it calculated? Will Vietnam's steel imports be subject to anti-dumping duty?1. What is Anti-Dumping duty?Anti-dumping duty is an import duty levied on foreign goods cost below the fair market value of similar domestic goods. Anti-dumping duties protect domestic producers and markets from unfair price competition of foreign imports.The anti-dumping duty rate can range from 0 to 550% of the invoice value of the goods. The formula for calculating anti-dumping duty is as follows:Anti-Dumping Duty = Normal Value – Export ValueIn which the normal value is the local market price of the goods. If the country does not produce the good, the government will refer to the price of any similar product available in the local market. In the absence of similar goods, the Government will consider the duty rate based on the cost of production and apply a reasonable profit to calculate the normal value.2. Drawbacks of anti-dumping dutyAlthough anti-dumping duty is enacted to protect the profit of enterprises and the domestic economic market, it also causes certain damages and obstacles to imports.Anti-dumping duty can hinder free trade between countries, importers lose the supply of cheap and quality goods, reducing profits significantly in the long run. The second thing is that consumers can end up paying higher prices. The effects of anti-dumping duties will limit the entry of foreign companies, harming the economy of the country imposing the duty.3. WTO Regulations on Anti-Dumping MeasuresThe World Trade Organization plays an important role in the regulation anti-dumping measures around the world. The WTO does not participate in activities to punish dumping companies but has the power to regulate and intervene in the decisions of countries to impose anti-dumping duties.Anti-dumping measures must be approved by the WTO before they are enacted, whether they go against free-market principles. According to the WTO Anti-Dumping Agreement, the government must prove that dumping by foreign sellers is threatening and seriously affecting the domestic market.When finding reasonable evidence, the WTO laid down several provisions:The results of the anti-dumping duty will be valid for 5 years if no amendments, supplement or order to cancel this policy before the expiry of the term.Before the expiry of anti-dumping measures, the government can conduct a sunset review to check whether the duty rate is still appropriate in the real situation. If the results show that stopping the imposition of anti-dumping duties will cause further injury, the anti-dumping duty will be applied for another 5 years. 4. Anti-dumping investigations on Vietnamese exports4.1. The US marketThe United States is one of Vietnam's major export markets, accounting for 29.5% of total exports in 2022 with an export value of 109.4 billion USD, up 13.6% compared to 2021. The US also assessed anti-dumping measures to international seller. According to WTO statistics, by the end of December 2022, the United States has investigated 53 trade remedies against imported goods in Vietnam, of which the investigated items mainly include products steel, wire rod, heavy-duty solar battery,...According to the latest investigation results, the US has preliminary concluded that Vietnam is not subject to trade remedy tariffs on stainless wire rod, so domestic importers still benefit from the cheap steel supply of Vietnam.4.2. Canadian marketAccording to WTO statistics, by the end of June 2022, Canada has investigated a total of 362 cases and imposed trade remedies duty on 230 cases. Since 2021, Canada has not initiated a new investigation into Vietnamese exports. Currently, Canada is imposing anti-dumping duties on 7 types of products imported from Vietnam, including: carbon welded steel pipes, cold rolled steel, reinforced concrete, copper pipe fittings, anti-corrosion steel plates, oil casting pipe and upholstered seats.In 2022, Candana conducted a sunset review of Vietnam's oil country tubular goods  products and decided to impose an anti-dumping duty of 37.4% on all OCTG exporters. This duty rate will be valid from September 6, 2022.4.3. Mexican marketBy the end of June 2022, Mexico has investigated two anti-dumping cases with galvanized and cold rolled steel products of Vietnam. In September 2022, the Government made preliminary conclusions on the anti-dumping duty rate applied to Vietnamese exporters from 0 to 12.34%.4.4. European marketThe European Union (EU)According to WTO statistics, the EU has applied a total of 408 trade remedy measures against imported goods worldwide. For Vietnam, currently the EU is only applying anti-dumping tax on steel products. After periodic review in December 2021, the European Commission has made the final decision that a number of Vietnamese steel products exported to the EU will be subject to common quotas with other countries on a quarterly basis until the end of 30 years. June 2024.The UKAccording to the agreement to withdraw from the EU from January 1, 2021, the UK is no longer a member of the EU, so the application of trade remedies will proceed independently between the EU and the UK. For Vietnam, the UK is currently applying only one safeguard measure for steel products.In June 2022, the UK Trade Remedies Authority officially applied separate tariff quotas on a quarterly basis and residual tariff quotas for a number of steel products imported from Vietnam has be valid from July 1, 2022 to June 30, 2024.4.5. Australian marketAccording to data from the General Department of Customs, the total export turnover of Vietnam to Australia reached 5.6 billion USD, up 26.2% compared to 2021, in which, the export of iron and steel of all kinds reached 208 million USD. By the end of June 2022, Australia has investigated 18 trade remedies related to Vietnamese exports. In 2022, Australia officially lifted the anti-dumping duty on shaped aluminum products imported from Vietnam.4.6. Indian marketAccording to World Trade Organization statistics, in 2022, India investigated 30 trade remedies against goods imported from Vietnam. Currently, there are 10 trade remedy measures being applied and 17 cases have expired anti-dumping duties, including products such as galvanized aluminum-zinc alloy steel, flat rolled stainless coil. Therefore, if importing these goods from Vietnam, you can benefit from the anti-dumping duty rate of 0%.Hopefully with the latest news about the anti-dumping duty rate for steel products imported from Vietnam, it has helped you to have more choices of high quality goods. Any demand on importing Vietnamese steel, please contact MRS Steel via Whatsapp: +84 76 911 2358 for the best support.