3 trade remedy tools are being used commonly by countries
By the end of December 2022, Vietnam's export goods are the subject of 227 investigation cases related to trade remedies. |
The trend of trade protectionism is getting stronger and stronger
Information in the Trade Remedies Annual Report 2022 has just been announced by the Trade Remedies Administration (Ministry of Industry and Trade).
According to the report, global trade reached about $ 25 trillion in 2019, then decreased by about $ 2.5 trillion in 2020 as a result of the Covid-19 pandemic. As demand recovers, the value of trade will increase by $5.5 trillion by 2021, to about $28 trillion. Global trade grew to a record $32 trillion by the end of 2022, up about 26% from pre-pandemic levels in 2019.
Along with that, in recent years, the world has witnessed a global economic recession due to the impact of the epidemic and in 2022, global trade will continue to grow at a slower rate when the Ukraine conflict broke out and shows no sign of ending. This leads to the trend of trade protection taking place stronger than ever. Trade protection policy can take many forms, of which tariffs are the main measure used.
According to WTO statistics, since its establishment (1995) to the end of December 2022, there are 7,665 trade remedy cases initiated for investigation worldwide, but only 5,074 cases lead to investigations. to apply trade remedies.
According to the WTO, there are currently three commonly used trade remedy tools: anti-dumping, anti-subsidy and safeguard. Among the three measures mentioned above, anti-dumping measures were initiated to investigate the most, with 6,582 cases, accounting for 86% of the total number of trade remedy cases initiated by WTO members. Meanwhile, the number of cases of applying anti-subsidy and safeguard measures was 671 cases (accounting for 9%) and 412 cases (accounting for 5% of total initiated cases).
Some commodities are subject to safeguard measures by WTO members, including: live animals (9 cases); agricultural products (14 crops); animal and vegetable fats, oils and waxes (1 crop); processed foods, beverages, spirits, vinegar and tobacco (17 cases); mineral products (2 crops); chemical products (36 crops); plastic products, plastics, rubber (8 seasons); hides, skins, saddles (1 case); wood and wood products, storage baskets (3 crops); paper, paperboard (6 cases); textile products (17 crops); shoes, hats, feathers (3 cases); products of stone, plaster, ceramic products, porcelain, glass (15 seasons); metal products (55 crops); machinery and electrical equipment (13 cases); vehicles, aircraft and ships (3 cases); tools (2 cases); other items (3 cases).
"The products subject to safeguard measures are relatively diverse, not focusing mainly on a specific product such as anti-dumping or anti-subsidy measures," the report stated.
Along with the growth of export turnover in the past time, Vietnam's export goods continue to face many cases of investigation and application of trade remedies by foreign countries, especially foreign trade remedies. case of investigation against evasion of trade remedies.
By the end of December 2022, Vietnam's export goods were the subject of 227 investigation cases related to trade remedies. Particularly in 2022, there are 17 new cases initiated by foreign countries, in addition to many cases under investigation, or subject to annual review, mid-term/end-term review, review of new exporters.
Need a total measure
Although the biggest cause of the increase in anti-circumvention investigations is trade protectionism, there are other causes such as lack of knowledge about trade remedy laws. In general as well as the law on anti-circumvention of trade remedy measures in particular of Vietnamese enterprises, there is a lack of information on current trade remedy cases, chasing immediate profits...
In addition, there may be some particular enterprises taking advantage of investment policies and trade facilitation policies for export products to commit trade frauds.
Therefore, the management agencies need to take comprehensive and long-term measures to minimize the number of cases of Vietnamese goods being investigated for evading trade remedies as well as the negative impact that these cases have. This is caused to Vietnam's exports, preventing Vietnam from being used as a transit point to export goods to a third country...
According to the report, Vietnam has successfully handled many foreign trade remedy investigation cases by proving that enterprises are not dumping, the Government does not subsidize businesses, the Government does not interfere in market to create unfair advantages for exporters, proving that exporters do not have acts of evading trade remedies being applied to third countries. Thanks to such results, exporting enterprises are not subject to trade remedy duties, tax orders are lifted or tax is imposed at low rates, contributing to maintaining and expanding export markets.
Related News
Budget revenue is about to be completed for the whole year estimate
08:34 | 13/11/2024 Finance
Policy adaptation and acceleration of digital transformation in tax and customs management
10:03 | 14/11/2024 Regulations
State revenue collection poised to surpass annual target
10:11 | 12/11/2024 Finance
Propose many solutions to shorten tax refund time
09:32 | 07/11/2024 Finance
Latest News
VN's food processing industry struggles to improve quality and value chain integration
15:53 | 22/11/2024 Import-Export
Approach strategy of the seafood industry when implementing UKVFTA
09:26 | 22/11/2024 Import-Export
Mid-November: Vietnam's trade volume matches 2023 total, eyes record-breaking growth
09:25 | 22/11/2024 Import-Export
Vietnamese enterprises facing challenges from cross-border e-commerce platforms
14:32 | 21/11/2024 Import-Export
More News
Vietnam, Malaysia eye new milestone in trade ties
14:29 | 21/11/2024 Import-Export
Shrimp exports surge in 10 months, generating 3.2 billion USD
14:27 | 21/11/2024 Import-Export
Vietnam’s exports to the U.S. near US$100 billion milestone
09:46 | 21/11/2024 Import-Export
From the “abnormal” coffee price, worries about the new crop
09:46 | 21/11/2024 Import-Export
What obstacles limit the market share of Vietnamese goods in the UK?
14:49 | 20/11/2024 Import-Export
Why seafood exports to some Middle Eastern Countries are stalled
14:47 | 20/11/2024 Import-Export
Storm No. 3 destroys profits of many insurance companies
14:45 | 20/11/2024 Import-Export
Vietnam, Malaysia eye golden partnership opportunities in Halal industry
14:44 | 20/11/2024 Import-Export
Tra fish sector aiming for production, processing greening for sustainable development
14:41 | 20/11/2024 Import-Export
Your care
VN's food processing industry struggles to improve quality and value chain integration
15:53 | 22/11/2024 Import-Export
Approach strategy of the seafood industry when implementing UKVFTA
09:26 | 22/11/2024 Import-Export
Mid-November: Vietnam's trade volume matches 2023 total, eyes record-breaking growth
09:25 | 22/11/2024 Import-Export
Vietnamese enterprises facing challenges from cross-border e-commerce platforms
14:32 | 21/11/2024 Import-Export
Vietnam, Malaysia eye new milestone in trade ties
14:29 | 21/11/2024 Import-Export