Indonesia’s Department of Trade Defense has decided to revoke anti-dumping measures on certain cold-rolled steel products originating in or imported from Vietnam. The move implies that Vietnam steel exports to Indonesia will not have to tolerate anti-dumping duties that could be up to 49.2pc.
Indonesian Anti-Dumping Committee (KADI) opened the case on August 26, 2019. In February 2021, KADI announced the final results of the investigation and proposed anti-dumping taxes of 3.01-49.2 percent on Vietnamese products. Indonesia imported 365,000mt of Vietnamese steel worth $290mn, annually, during the period of investigation.
Contrarily, the ministry said that steel products have sensitive characteristics that can be probed for trade corrective measures. Therefore, the Department of Trade Defense will coordinate with the Vietnam Steel Association and relevant companies to keep track of new developments in the Indonesian market to deal with them aptly.