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Vietnamese steel pipes are at risk of being investigated against tax evasion in the US

Vietnamese steel pipes are at risk of being investigated against tax evasion

The US has received the application investigation against tax evasion and trade remedies with some steel pipe products under HS code 7306.61 and 7306.30 imported from Vietnam.

Vietnamese steel pipes are at risk of being investigated against tax evasion in the US - Photo 1.

American businesses accused Vietnam of importing raw steel from China and Korea, then processing and exporting it to the US.

The Trade Remedies Administration (Ministry of Industry and Trade) said that the US Department of Commerce (DOC) has just received a lawsuit requesting an investigation against trade remedy tax evasion with a number of square/rectangular steel pipes and tubes. welded round carbon steel.

These products mainly belong to HS codes 7306.61 and 7306.30 imported from Vietnam. Plaintiffs in this case include large steel pipe manufacturers in the US (such as Nucor Corporation, Bull Moose Tube, Maruichi Steel Corporation…).

American businesses accuse Vietnam of importing hot rolled steel (HRS), which is the main raw material for the production of steel pipes from China and Korea, and then simply processing and processing it into steel pipes and exporting to the US. in order to evade the respective trade remedy tax that the US is applying to China and South Korea.

Accordingly, the US has imposition of anti-dumping duty/anti-subsidy products of square/rectangular steel pipe and welded round carbon steel pipe imported from China with anti-dumping tax rates of 69.20 – 85.55% and 249.12 respectively – 264.64% and anti-subsidy tax rates around 29.57 – 615.92% and 2.17% – 200.58% from 2008.

For Korea, the US has also imposed anti-dumping duties on carbon steel round pipes with welded seams imported from this country at rates of 4.91 – 11.63% since 1992.

Data from the US International Trade Commission (ITC) shows that in 2021, the total export value of Vietnam’s investigated products to the US is about 57.6 million USD.

According to US regulations, within 30 days of receiving the application, the DOC will issue a decision to initiate the case (which can be extended).

Trade Remedies Bureau recommending the relevant manufacturing/exporting enterprises to review the export activities of the investigated steel pipe products to the US; study the US tax evasion investigation procedures and coordinate with the Bureau in the process of the case.

The Department will coordinate with the Vietnam Steel Association to review and work directly with relevant manufacturing and exporting enterprises to find out about the situation of production and export to the US, and prevent signs and behaviors. evade (if any).

It is known that the Ministry of Industry and Trade is promoting early warning activities, combating trade remedy evasion, origin fraud and illegal transshipment.

According to the Ministry of Industry and Trade, along with the high growth in export turnover, Vietnam’s export enterprises are increasingly likely to become the subject of investigation and application of trade remedies. In fact, the number of trade remedy cases with our exports has increased rapidly in recent years. By the end of the first quarter of 2022, Vietnam’s export goods have been the subject of 212 foreign trade remedy investigation cases. Among them, the anti-circumvention investigation cases accounted for 25 cases and tended to increase in recent times.

The Ministry of Industry and Trade has been monitoring export fluctuations of 36 items and periodically issues a warning list of 11 items to inform authorities, associations, businesses and related parties. other.

Since the first time the Ministry of Industry and Trade announced the warning list in July 2019, there have been 7 products on the warning list being investigated for trade remedies by foreign countries, namely plywood. with materials made from hardwood, foam padding, car tires, copper pipes, honey, anti-corrosion steel, ceramic tiles. Through early warning work, ministries, branches, localities and businesses have been proactive in responding to foreign trade remedies.

The Ministry of Industry and Trade soon approached businesses in the industry to provide information and help businesses understand the principles and procedures of investigation; the business needs to perform; possible scenarios. As a result, businesses have time to prepare to fully and accurately respond to the requirements of foreign investigation agencies.

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