The United States will release the results of anti-dumping and anti circumvention sanctions against Vietnamese wood furniture, birch plywood before May 2, 2023
2023-3-21 Source:
According to Vietnamese media reports on March 20th, the United States will announce whether the hardwood plywood imported from Vietnam has evaded customs sanctions before May 2nd. It is reported that this is the fifth time that the United States has adjusted the date for the release of the survey results, and currently, under the situation that the wood and furniture industry is facing significant risks, raw material prices are soaring, and sanctions may be imposed on Vietnam’s largest export market for wood and furniture.
The Ministry of Industry and Trade of Vietnam recently released a report saying that due to the overall downturn in tariffs and the market, it is recommended that enterprises carefully arrange their operation and production plans for 2023. The economic slowdown and high inflation in many major import markets such as the United States, the European Union, and Japan have directly affected Vietnam’s production and exports.
The department is concerned that throughout 2023, Vietnam’s timber and furniture manufacturing businesses will experience a significant decline, with orders sharply declining. In the first 10 months of 2022, the export value of wooden furniture to the United States reached 6.5 billion US dollars, accounting for nearly 88% of the total export value of wood and wood products, down 3.1% from the same period last year. According to the Ministry of Industry and Information Technology, the export value of wooden furniture to the EU in the first 10 months of 2022 also reached only 784 million US dollars, a decrease of 2% compared to the same period last year.
