(HSV VIETNAM GROUP) - According to a galvanized steel company, although the newly announced preliminary tax rate is quite high, in reality it does not cause a significant negative impact on the current production and business situation of Vietnamese steel enterprises because the suspension of exporting galvanized steel to the US has lasted from the time the investigation was initiated until now.
According to preliminary results from the anti-dumping investigation initiated by the US Department of Commerce (DOC) on galvanized, cold-coated and color-coated steel products exported from Vietnam to the US, all Vietnamese steel enterprises are subject to very high preliminary anti-dumping tax rates, exceeding the threshold of 39%.
Talking to the press, Mr. Luong Hoang Thai, Director of the Trade Defense Department (Ministry of Industry and Trade), said that Vietnamese businesses are subject to high tax rates because the US has not recognized Vietnam as a market economy. Therefore, they use the replacement value of the third country to calculate the tax rate for Vietnam.
"This does not truly reflect the production and export situation of Vietnamese enterprises," Mr. Thai said.
The preliminary anti-dumping tax rates of some Vietnamese enterprises such as HSG, Hoa Phat Steel Sheet, and Nam Kim Steel are quite high.
Currently, DOC has not yet announced a replacement country or specific calculation method. However, according to the investigation process, this information will be made public in the next stage, creating an opportunity for Vietnamese businesses to criticize, provide data, and make arguments to clarify the differences in costs and production conditions in Vietnam compared to alternative countries, to protect their legitimate rights and interests.
Previously, DOC initiated an anti-dumping investigation on galvanized, cold-coated and color-coated steel products exported from Vietnam to the US from September 2024.
Talking to us, a representative of a company exporting galvanized steel to the US said that since that time, export activities of galvanized steel to the US market have encountered many interruptions due to the cautious mentality of US customers facing the risk of retroactive anti-dumping tax.
"Therefore, although the preliminary tax rate just announced is quite high, in reality it does not cause a significant negative impact on the current production and business situation of Vietnamese steel enterprises because the suspension of exporting galvanized steel to the US has lasted from the time the investigation was initiated until now," said a representative of an enterprise exporting galvanized steel to the US on the afternoon of April 5.
Also according to this business representative, in parallel with the anti-dumping investigation, DOC is also conducting an anti-subsidy investigation on galvanized, cold-coated and color-coated steel sheets from Vietnam. When Vietnamese steel enterprises export galvanized steel to the US, the final tax rate will be the total of anti-dumping tax and anti-subsidy tax.
Currently, the preliminary results of the anti-subsidy case are bringing positive signals when two Vietnamese steel enterprises, Hoa Sen Group and Ton Dong A, achieved a preliminary anti-subsidy tax rate of 0%.
Previously, on April 2, 2025, the US also issued a decree imposing reciprocal taxes on imported goods from many countries, including Vietnam, with an expected announced tax rate of up to 46%. However, steel products from Vietnam are not subject to this reciprocal tax rate because they have been subject to a 25% tax under Section 232 from March 8, 2018 until now. This is an important point to note to avoid misunderstanding that Vietnamese galvanized steel is taxed 3 times including anti-dumping tax, anti-subsidy tax, and reciprocal tax.
Ha Diem HSV