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Update news trade defence
Vietnam should set up an early warning system for trade defence to help support Vietnamese products in foreign markets, said industry leaders and policymakers.
The Ministry of Industry and Trade has provided early warnings for 18 export products originating from Vietnam which are facing a high risk of being investigated for trade defence measures, origin fraud and illegal transshipment.
The US’s increased trade defence measures on imports in general and Vietnamese goods in particular has made it increasingly hard to export to this market, according to Counsellor and head of the Vietnam Trade Office in the US Do Ngoc Hung.
The Trade Remedies Authority of Viet Nam has asked the Philippines to exclude Viet Nam from three safeguard investigations on some steel products.
The Ministry of Industry and Trade has decided to initiate an anti-dumping investigation on high-fructose corn syrup originated from China and the Republic of Korea.
Vietnam’s plywood exports, despite good growth amid the COVID-19 pandemic, are facing allegations of dumping and evading trade remedies in two largest markets namely the Republic of Korea (RoK) and the US.
The Ministry of Industry and Trade’s Trade Remedies Authority of Vietnam announced that 12 trade remedy cases were initiated by foreign countries and territories for Vietnamese goods in the first six months of this year.
VietNamNet Bridge – Minister of Industry and Trade (MoIT) Tran Tuan Anh said the ministry planned to establish a trade defence department to safeguard the interests of businesses in the context of global integration.
Vietnamese exporters are usually passive in pursuing trade-related lawsuits, while during difficult economic times, other countries started actively using trade defence instruments to protect their domestic production.