June 29, 2022 | 14:47 GMT +7

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Wednesday- 10:25, 13/04/2022

Anti-dumping tax on Vietnam’s honey is nearly 7 times lower

(VAN) The anti-dumping tax on Vietnam’s honey in the final conclusion of the US Department of Commerce is nearly 7 times lower than the preliminary conclusion.
Anti-dumping tax on honey imported from Vietnam into the US is 7 times lower compared to the preliminary conclusion of the DOC.

Anti-dumping tax on honey imported from Vietnam into the US is 7 times lower compared to the preliminary conclusion of the DOC.

According to the Trade Remedies Authority (Ministry of Industry and Trade), The US Department of Commerce (DOC) has issued the final conclusion on the tax rate in the case of anti-dumping investigation of honey imported from Argentina, Brazil, India and Vietnam.

Accordingly, the anti-dumping tax for Vietnam’s honey exporters has decreased sharply, from 410.93% - 413.99% in the preliminary conclusion to 58.74% - 61.27%.

As a consequence, compared with the preliminary conclusion, the dumping margin for Vietnamese businesses at the final conclusion decreased by nearly 7 times, helping the honey industry to continue to export to the US.

The results of this case showed the important role of the honey production and export industry in cooperating with the investigation agency.

During the investigation of the case, the Ministry of Industry and Trade coordinated with the ministries and branches regularly to express their views to the US side, requested the US to make an objective and fair assessment and strictly comply with the provisions of the World Trade Organization (WTO).

Ministry of Industry and Trade appreciates that the DOC has listened to the opinions of the parties and has partially adjusted the calculation method. However, Ministry of Industry and Trade stated that this result still does not reflect the actual situation of Vietnam’s honey production and export.

In the US, there are two agencies involved in an anti-dumping investigation, namely the DOC (determining anti-dumping duties) and the US International Trade Commission - ITC (determining damage to domestic industries). Anti-dumping measures will officially take effect on the basis of the final conclusion on dumping and damage to the domestic industry.

Currently, the ITC is investigating the damage and is expected to issue a final conclusion on May 23, 2022. According to ITC statistics, the output of Vietnamese honey exported to the US in 2021 reached 56,133 tons with a turnover of about $82.1 million.

In the coming time, Ministry of Industry and Trade will continue to coordinate with relevant ministries and branches, the Vietnam Beekeepers Association and Vietnam’s businesses exporting honey to discuss with US agencies in the next stages (damage assessment, anti-dumping tax review,...) in order to support the Vietnamese honey industry to be treated fairly in this case in accordance with WTO regulations, ensuring the legitimate interests of Vietnam’s businesses exporting honey.

Simultaneously, Ministry of Industry and Trade is also implementing trade promotion activities to support honey processing businesses to promote consumption in the domestic market as well as access to other markets, effectively exploiting the benefits of the free trade agreements that we have joined.

Author: Son Trang

Translated by Hoang Duy

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