3 trade remedy tools are being used commonly by countries

VCN - By the end of December 2022, Vietnam's export goods were the subject of 227 investigation cases related to trade remedies. In 2022 alone, there are 17 new cases initiated by foreign countries.
Pushing-up exports followed by risks of “escalating” Trade remedy lawsuits Pushing-up exports followed by risks of “escalating” Trade remedy lawsuits
Steel exports are struggling because of trade remedy lawsuits Steel exports are struggling because of trade remedy lawsuits
Vietnamese goods subject to trade remedy investigations are increasing Vietnamese goods subject to trade remedy investigations are increasing
By the end of December 2022, Vietnam's export goods are the subject of 227 investigation cases related to trade remedies.
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.

By Ngoc Linh/ Huu Tuc

Related News

Budget revenue is about to be completed for the whole year estimate

Budget revenue is about to be completed for the whole year estimate

VCN - After 10 months of 2024, the budget collection progress has almost completed the assigned estimate for the whole year. From now until the end of the year, the entire Finance sector is striving to achieve the revenue exceeding the set target.
Policy adaptation and acceleration of digital transformation in tax and customs management

Policy adaptation and acceleration of digital transformation in tax and customs management

VCN - In order to contribute to economic growth, tax, customs and logistics management policies need to ensure high adaptability, stability and predictability so that they require little amendment or supplementation.
State revenue collection poised to surpass annual target

State revenue collection poised to surpass annual target

VCN - With ten months of 2024 behind us, Vietnam’s state budget revenue is on track to exceed the year’s target. The Ministry of Finance is pushing hard to achieve results that go beyond initial projections as the year draws to a close.
Propose many solutions to shorten tax refund time

Propose many solutions to shorten tax refund time

VCN - Fully defining the duties and responsibilities of tax officials and having a mechanism to protect tax officials in tax refunds are breakthrough solutions being proposed to remove bottlenecks and barriers, speeding up the tax refund process in the coming time.

Latest News

VN

VN's food processing industry struggles to improve quality and value chain integration

Despite accounting for 19.1 per cent of Việt Nam’s processing sector, the food processing industry has been struggling with major issues such as poor-quality raw materials and subpar value chain integration, said industry insiders and economists.
Approach strategy of the seafood industry when implementing UKVFTA

Approach strategy of the seafood industry when implementing UKVFTA

VCN - As one of Vietnam's strong export industries to the UK, especially when the Vietnam - United Kingdom of Great Britain and Northern Ireland Free Trade Agreement (UKVFTA) comes into effect, with a detailed information approach strategy, it has created a great driving force to promote the export of Vietnamese seafood products to this market.
Mid-November: Vietnam

Mid-November: Vietnam's trade volume matches 2023 total, eyes record-breaking growth

VCN - By mid-November 2024, Vietnam's total import-export turnover reached an impressive US$681.48 billion, equaling the full-year trade figure for 2023
Vietnamese enterprises facing challenges from cross-border e-commerce platforms

Vietnamese enterprises facing challenges from cross-border e-commerce platforms

VCN – In recent years, with the rapid development of cross-border e-commerce (CBEC) platforms, domestic enterprises in Vietnam have been facing numerous difficulties and challenges.

More News

Vietnam, Malaysia eye new milestone in trade ties

Vietnam, Malaysia eye new milestone in trade ties

The official visit to Malaysia from November 21-23 by Party General Secretary To Lam is expected to open up new opportunities for and mark a new milestone in the economic and trade cooperation between Vietnam and Malaysia. Vietnam and Malaysia are key economic, trade, and investment partners. Their economic and trade ties have steadily grown since the two nations established diplomatic relations in 1973.
Shrimp exports surge in 10 months, generating 3.2 billion USD

Shrimp exports surge in 10 months, generating 3.2 billion USD

Vietnam’s shrimp exports in October reached US$394 million, a strong 24% increase year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s exports to the U.S. near US$100 billion milestone

Vietnam’s exports to the U.S. near US$100 billion milestone

VCN - By the end of October, Vietnam's exports to the United States approached US$100 billion, reaffirming its position as Vietnam's largest export market.
From the “abnormal” coffee price, worries about the new crop

From the “abnormal” coffee price, worries about the new crop

VCN - The Vietnamese coffee industry enters the new crop with the question of what is a reasonable price to ensure benefits for coffee growers while still retaining international consumers.
What obstacles limit the market share of Vietnamese goods in the UK?

What obstacles limit the market share of Vietnamese goods in the UK?

VCN - Vietnamese goods account for only about 1% of total imports into the UK market. One of the reasons is that they have not yet built their own brands and have not focused on effective strategies and approaches to market information.
Why seafood exports to some Middle Eastern Countries are stalled

Why seafood exports to some Middle Eastern Countries are stalled

VCN - Several shipments of seafood exported to certain Middle Eastern countries have been delayed due to legal challenges related to consular legalization procedures. This has created significant bottlenecks in accessing these markets.
Storm No. 3 destroys profits of many insurance companies

Storm No. 3 destroys profits of many insurance companies

VCN - Due to the impact of storm No. 3, the business results of the third quarter and the first 9 months of 2024 of the insurance sector have been significantly affected. This requires more efforts from businesses for the results of the whole year 2024.
Vietnam, Malaysia eye golden partnership opportunities in Halal industry

Vietnam, Malaysia eye golden partnership opportunities in Halal industry

Cooperation in the Halal industry can help Vietnamese products reach nearly 2 billion Muslim consumers worldwide, representing over 24% of the global population, according to Malaysia’s Minister of Investment, Trade, and Industry Zafrul Abdul Aziz.
Tra fish sector aiming for production, processing greening for sustainable development

Tra fish sector aiming for production, processing greening for sustainable development

Greening production and processing to meet export requirements is both a trend and a necessity for many industries, including the tra fish sector.
Read More

Your care

Latest Most read
VN

VN's food processing industry struggles to improve quality and value chain integration

Despite accounting for 19.1 per cent of Việt Nam’s processing sector, the food processing industry has been struggling with major issues such as poor-quality raw materials and subpar value chain integration, said industry insiders and economists.
Approach strategy of the seafood industry when implementing UKVFTA

Approach strategy of the seafood industry when implementing UKVFTA

VCN - Mr. Nguyen Hoai Nam, Deputy General Secretary, Vietnam Association of Seafood Exporters and Producers (VASEP), said that the advantage that UKVFTA brings is that the main products of the seafood industry enjoy 0% import tax to the UK, especially key
Mid-November: Vietnam

Mid-November: Vietnam's trade volume matches 2023 total, eyes record-breaking growth

By mid-November 2024, Vietnam's total import-export turnover reached an impressive US$681.48 billion, equaling the full-year trade figure for 2023
Vietnamese enterprises facing challenges from cross-border e-commerce platforms

Vietnamese enterprises facing challenges from cross-border e-commerce platforms

VCN - E-commerce platforms have emerged as crucial distribution channels, enabling goods to reach consumers quickly and conveniently.
Vietnam, Malaysia eye new milestone in trade ties

Vietnam, Malaysia eye new milestone in trade ties

The official visit to Malaysia from November 21-23 by Party General Secretary To Lam is expected to open up new opportunities for and mark a new milestone in the economic and trade cooperation between Vietnam and Malaysia. Vietnam and Malaysia are key economic, trade, and investment partners. Their economic and trade ties have steadily grown since the two nations established diplomatic relations in 1973.
Mobile Version