Up to now, Canada has initiated investigations into 8 trade defense cases against Vietnam's exported steel products.
The Department of Foreign Trade Remedies, Department of Trade Remedies (Ministry of Industry and Trade) has just issued a warning about the risk of Canada investigating and applying trade defense measures to steel wire products imported from Vietnam. .
Up to now, Canada has initiated investigations into 8 trade defense cases against Vietnam's exported steel products, targeting most of Vietnam's main exported steel products and types such as reinforced steel. concrete, anti-corrosion steel plates, rolled steel... With a policy of monitoring and tightening management of imported steel to protect the domestic market, it is expected that in the coming time, Canada will continue to research and investigate. with the remaining products and types of steel in Vietnam, including steel wire products.
This item is widely used in prestressed concrete (PC Wire), umbrella frames, tire iron beads (TBW), piano wire, wire cores of conductors, cables used for elevators, cranes, etc. cranes, welding electrode cores, nails...
Statistical data from Trademap, an updated database system on the trade situation of countries established by the International Trade Center (ITC), shows that Vietnam's export turnover of steel wire products to Canada has grown rapidly in recent years.
For example, in 2020, Vietnam exported about 10 million USD of steel wire to Canada. The export turnover of this item doubled to 21 million USD in 2021 and continued to grow strongly, reaching about 40 million USD in 2022.
The absolute increase in value is one of the criteria for Canada to conduct an investigation and apply trade defense measures against Vietnamese steel wire.
Based on this database, the Trade Remedies Department issued a warning about the risk of Canada investigating and applying trade defense measures to steel wire products imported from Vietnam, and recommended that businesses, Related associations and businesses need to review the export of steel wire to the Canadian market (refer to the following HS codes: 7223, 7213, 7227, 7306).
At the same time, prepare to respond in case Canada conducts an investigation into a trade defense case; proactively research and master Canada's defense investigation regulations and procedures. In case of investigation, the Association and related businesses need to have a strategy to participate and handle the case; fully cooperate at the request of the Investigation Agency; Regularly coordinate to receive support from the Trade Defense Department.
Theo PV – VTV