The International Trade Practices Unit (UPCI) of Mexico’s Ministry of Economy has decided to adjust the tax rate imposed on galvanized steel imports from Vietnam, according to the Ministry of Industry and Trade (MoIT).
On August 30, 2021, Mexico commenced an anti-dumping investigation into the imports from Vietnam following a request from domestic producers. Then, on September 14, 2022, the UPCI issued an anti-dumping tax rate of 0% - 12.34%.
In its final conclusion, it determined that Vietnam's steel industry operated under the market mechanism, and imposed an anti-dumping rate for Vietnamese enterprises ranging from 0% to 10.84%.
According to the MoIT, during the investigation, the ministry closely coordinated with the Vietnamese Embassy in Mexico through different channels to express their views and propose not to use the calculation method that is unfavorable for Vietnamese exporters.
The tax reduction by the UPCI in the final determination helps Vietnamese steel enterprises to continue to export to Mexico. This tax rate is also considered relatively low compared to those that Mexico applies to steel products in particular and other products in general in anti-dumping investigations it initiates.
Data from the International Trade Centre ( ITC) showed that Vietnam earned $170 million from exporting galvanized steel to Mexico in 2020, and $370 million in 2021./
Read more: Steel Industry Report
STEEL INDUSTRY REPORT 2022 & OUTLOOK 2023