India imposed Countervailing Duty on steel products import from China and Vietnam.
On July 31, the Government of India announced the final result of the anti-countervailing investigation of the stainless steel welded pipe imported from Vietnam and China.
The investigation was initiated in early August 2018, and after nearly a year of investigation, the Indian Government has now decided on the tariff applied to this imported product.
Accordingly, the tax rate for Chinese exporters is from 21.74% to 29.88%. Meanwhile, Vietnamese exporters have much lower tax rates, from 10.33% to 11.96%. Among exporters participating in the survey, Vietnam Sole Member Co., Ltd and Steel 568 Co., Ltd are not subject to taxes.
Through the survey results, it can be seen that Chinese factories have received considerable subsidies, leading to lower import prices and creating a market imbalance.
The higher taxation of Chinese factories is seen as an advantage for Vietnamese factories. When tariffs become a tool to prevent Chinese goods from entering India, factories that are not subject to tax or low taxes will have more opportunities to dominate this market.
MRS Team, with experience and understanding of World Trade Defense, is always ready to support factories and importers in preparing the worst case scenario.
To know more detail about Countervailing Duty, please contact us at:
Ms Lan – Juridical Manager of MRS Steel
Phone / Whatssap: +84 962 343 746