BOC slaps provisional anti-dumping duty on Vietnamese cement | Inquirer Business

BOC slaps provisional anti-dumping duty on Vietnamese cement

By: - Reporter / @bendeveraINQ
/ 03:05 PM December 29, 2021

BOC launches 6 IT systems to cut red tape, eliminate corruption

Bureau of Customs. (File photo from Philippine Daily Inquirer)

MANILA, Philippines—The Bureau of Customs (BOC) is now charging provisional anti-dumping duty on cement imports from Vietnam, which domestic manufacturers had claimed were hurting the local industry.

Customs Commissioner Rey Leonardo Guerrero said in a Dec. 20 memorandum that the temporary additional tariff — in the form of a cash bond — shall be imposed for four months since the Department of Trade and Industry’s (DTI) administrative order took effect last Nov. 29.

Article continues after this advertisement

The DTI order said ordinary Portland cement type 1 and blended cement type 1P from Vietnam were being dumped — sold at lower prices abroad compared to normal value — in the Philippines.

FEATURED STORIES

Domestic players had alleged that dumping of Vietnamese cement was causing material injury to local manufacturers producing similar products, as locally produced cement lost market share to cheaper imports.

In its preliminary investigation, the DTI affirmed the injury inflicted by Vietnamese imports on domestic cement makers.

Article continues after this advertisement

The DTI had computed dumping margins, or the amount of bonds that have to be paid for imported Vietnamese cement, as low as $0.73 per metric ton and as high as $12.79 per MT.

Article continues after this advertisement

The Tariff Commission was currently formally investigating this anti-dumping complaint, to determine a definitive additional duty on cement imports from Vietnam and protect local producers.

Article continues after this advertisement

In a separate Dec. 16 letter to Guerrero, Finance Secretary Carlos Dominguez III, who oversees the BOC, endorsed the imposition of the provisional anti-dumping duty.

TSB

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Bureau of Customs, Cement, manufacturers, tariff

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.