Vietnamese has taken Indonesia to WTO over imposition of safeguard tariffs on steel products. Photo: Diep Duc Minh
Vietnam has initiated new dispute proceedings against Indonesia with the World Trade Organization regarding Indonesia’s imposition of “safeguard” tariffs on steel products imported from Vietnam.
Vietnam notified the WTO Secretariat of the case on Monday, the WTO said in a statement.
According to Vietnam’s complaint, Indonesia used emergency "safeguard" tariffs on imports of flat rolled products of iron or non-alloy steel.
Safeguard tariffs can be imposed temporarily to protect a nation's producers against a sudden and damaging surge of imports, Reuters reported.
By launching the complaint, Vietnam has triggered a 60-day period for Indonesia to settle the matter. After that Vietnam could ask the WTO to adjudicate, according to Reuters.
On July 7, 2014, the Indonesian government issued a three-year anti-dumping duty on flat-rolled products of iron or non-alloy steel imported from Vietnam, Taiwan and South Korea. Accordingly, the products face tariffs at 50 percent in 2014, 46 percent in 2015 and 41 percent in 2016.