Mexico Lowers Anti-Dumping Tax Rate on Vietnam Galvanized Steel

The Trade Remedies Authority of Mexico's Ministry of Economy (UPCI) adjusted the tax rate to 0% - 10.84% after evaluating the Vietnamese steel industry operating under market mechanisms and using data provided by Vietnamese companies to calculate the rate.

The Vietnamese Ministry of Industry and Trade closely coordinated with the Vietnamese Embassy in Mexico to express their views and propose not using unfavorable calculation methods for Vietnamese exporters. 

This decision allows Vietnamese steel companies to continue to compete and export to Mexico, a potential galvanized steel export market for Vietnam and a key market for this product in the Americas.

According to the International Trade Centre, Vietnam exported around USD 170 million of investigated products to Mexico in 2020, which increased more than twice to around USD 370 million in 2021. The reduction in tax rates is considered relatively low compared to the tax rates that Mexico applies to steel products and other products in general in anti-dumping investigations initiated by Mexico.

Source: Bnews