Canada investigating Vietnamese steel products
Trade remedy investigation launched on most Vietnamese steel products exported to Canada.
According to the Trade Remedies Authority of Vietnam (TRAV), the Canadian Government has launched eight trade remedy investigations targeting Vietnamese steel products exported to the country, including five anti-dumping investigations, two anti-subsidy investigations, and one defensive investigation.
The Canadian Government has targeted nearly all of Vietnam’s main exported steel products, including steel reinforced concrete, anti-corrosion steel plate, steel coil, and OCTG oil pipeline steel pipe,
Under a policy of enhanced supervision and tightened control over imported steel products, to protect its domestic steel industry, the Canadian Government will continue to closely monitor and investigate other steel products exported by Vietnam, including steel wire.
Steel wire is used widely in the production of prestressed concrete (PC Wire), truss frames, tire bead wire (TBW), piano wire, wire cores for conductors, elevator cables, crane cables, welding electrode cores, and nails.
Data from Trademap shows that the export value of steel wire products from Vietnam has increased significantly in recent years.
It exported $10 million worth of steel wire products to Canada in 2020, which then more than doubled to $21 million in 2021 and then quadrupled to around $40 million in 2022. The increase in export value is among the criteria Canada uses to begin investigations and apply trade remedy measures.
TRAV has issued a warning to relevant Vietnamese businesses and associations, with recommended measures including reviewing their exports of steel wire to Canada and preparing measures in response if Canada were to initiate a trade remedy investigation.
It also advised that businesses fully understand Canada’s regulations and procedures to prepare for investigations.
