【Ferro-alloys.com】The Philippines Department of Trade and Industry (DTI) has announced that it will suspend three safeguard investigations on some imported steel products, according to the Trade Remedies Authority of Vietnam (TRAV) under the Ministry of Industry and Trade.
The DTI on June 15 last year initiated three safeguard investigations on steel products, namely galvanised steel, galvanized aluminum alloy steel, and metallic-coated galvanised steel products, imported into the country, including those from Vietnam, after domestic manufacturers filed a lawsuit alleging that the sudden increase in imports from other countries causing serious damage to the country’s industry, the TRAV said.
The authority emphasised that steel exporters can continue their export activities without the concern about the imposition of safeguard duties on these products from the Philippines.
As of 2020, the Philippines had investigated 13 trade remedy cases against Vietnamese exports, including an anti-dumping investigation and 12 safeguard investigations. The Philippines initiated investigations into four trade remedy cases against Vietnamese exports last year. The items investigated by the Philippines were mainly steel products.
Vietnam's exports to the Philippines market in 2020 reached more than 3.5 billion USD, accounting for 1.26 percent of Vietnam's total export turnover. Of which, the turnover affected by trade remedy-related lawsuits initiated or reviewed in 2020 is about 2 million USD.