Hoa Phat steel sheet is not imposed anti-dumping tax on the US

Recently, the US Department of Commerce (DOC) has issued the final decision in the investigation of anti-tax evasion, anti-dumping, anti-subsidy for cold rolled steel & corrosion-resistant steels (including galvanized , cold plating, color plating) imported from Vietnam using Korean, Taiwanese materials. With the final decision of the DOC, Hoa Phat Steel Sheet Co., Ltd. will export to the United States according to the Process of Origin and are excluded from taxation.

This is considered to be the initial success of Hoa Phat after an active process of participating in answering questionnaires and information transparency. The Group's point of view is to strictly comply with the provisions of the origin of goods, to ensure the use of domestic background steel, not to use raw materials from China, Taiwan, and South Korea to produce steel products that exported to the United States.

According to this final decision, Hoa Phat Steel Sheet Company, along with some local manufacturing enterprises, was also removed from the non-cooperating list by DOC and not subjected to anti-dumping tax.

The US market, with a population of more than 300 million people, is a major steel consumer market with an annual total steel import of over 30 million tons, requiring high quality and strict rules of origin. For most of the corrugated iron producers in Vietnam, the US market is listed as an important export market group in the sales policy.

Hoa Phat Steel Sheet Company is a member of Hoa Phat Group, has a factory producing galvanized / cold-plated / color-plated corrugated iron with advanced technology and equipment, is considered as the largest in the North. In addition to penetrating and confirming the domestic market, the Company also aims to export high quality products to some leading markets such as the US, Canada, EU, Australia ...

In addition, the Company also strictly complies with the rules of origin thanks to the product coding process throughout the production process, from input materials to output products. The above results are a good start to assist the Company to gradually penetrate the US market, confirming its position in the field of steel production in both domestic market and worldwide.

Earlier, in December 2019, the US Department of Commerce (DOC) made the final decision on the imposition of anti-evasion, anti-dumping and anti-subsidy duties on corrosion-resistant steel (CORE) and cold rolled steel (CRS) is manufactured in Vietnam, using hot rolled steel, cold rolled steel from Korea and Taiwan. The highest anti-evasion tax is determined by the US up to 456%, applies to businesses on the list of non-cooperating and committing tax evasion.

Nghi Tran