Local steel firms seek temporary import tax

13:24 | 27/02/2016 Industry

Some steel companies want the Ministry of Industry and Trade to put up temporary barriers like higher import tax on steel billet and other products until an ongoing investigation into dumping is completed, while other producers who use imported billets are opposed to it.

Local steel firms seek temporary import tax

Imported steel was transported at Hai Phong Port in the northern Hai Phong City — VNA/VNS Photo Hoang Hung

The ministry recently began the investigation following a demand from many domestic companies who themselves make billets and are affected by the cheap imports.

Nguyen Minh Thao, deputy head of the Central Economic Management Research Institute's Business Environment and Competitive Ability Department, warned that in future import taxes would decline due to international integration, and many companies would stop production and switch to trading.

Ho Nghia Dung, chairman of the VSA, said, "The use of protective measures is in line with international laws and are meant to protect the entire industry not inpidual companies.

Dung too said that if import taxes are not increased soon, local steel makers would go bust.

Deputy Minister of Industry and Trade Do Thang Hai, said: "Any investigation with respect to trade protection anywhere in the world will lead to conflicts between domestic producers and importers.

"In this case, domestic producers have proved their loss and the Ministry of Industry and Trade has opened an investigation.

"We pledge that the investigation processes and procedures will be transparent."/.


Source: VNS





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