Vietnamese steel nail producer faces US lawsuit

Under a US Department of Commerce (DOC) decision, steel nails from Taiwan, the Republic of Korea, Oman, Malaysia, Turkey, and India are also put under the microscope.

The DOC decision says on May 29 US producer Mid Continent Steel & Wire, Inc. lodged a petition for an AD and CVD investigation into steel nails imported from the seven aforementioned countries, alleging that these products were materially injuring the US industry.

According to the Vietnam Competition Authority (VCA), the US firm is accusing the imports of having a dumping margin of 323.99% and an estimated subsidy that surpasses the minimum level.

As scheduled, the US International Trade Commission (ITC) will issue its preliminary determination of material injury or threat of material injury within 45 days, or no later than July 14, 2014.  

The DOC will then announce preliminary countervailing duties in 85 days and preliminary antidumping duties in 160 days, though both deadlines may be extended.

This is the fourth AD and CVD  lawsuit the US has filed against Vietnamese products since 2011, following similar suits involving P.E plastic bags, carbon welded steel pipes and steel wire garment hangers.

US Customs statistics show that last year Vietnam earned about US$43.7 million from exporting 39,000 tonnes of steel nails to the US, accounting for approximately 17% of the US market share.

Source: VOV