Vietnam issues implementation guidance for UKVFTA on trade remedies

Anti-dumping duty or countervailing duty must not be higher than the dumping margin or subsidy level, states the circular that takes effect from December 15, 2021. The bilateral safeguard measure and the safeguard measure provided in Article XIX of the 1994 General Agreement on Tariffs and Trade may not be concurrently applied to the same imported goods eligible for preferential tariffs under the UKVFTA, the ministry said.

“The time limit for investigation for application of bilateral safeguard measures is 1 year from the date the investigation decision is issued. The duration for application of a bilateral safeguard measure must not exceed 2 years. In case the investigating agency concludes that a bilateral safeguard measure must be further applied to prevent or remedy serious damage and facilitate the adjustment of the domestic industry, the duration for application may be extended for 2 more years,” the ministry added in its circular.

In case the duration for application of a bilateral safeguard measure is longer than 2 years, such measure must be gradually loosened throughout the application of the duration.

ALCHEMPro News Desk (RKS)