The Ministry of Industry and Trade hosted a seminar titled ‘Trade Defense: Perspectives from Investigations into Solar Panels,’ as Vietnam continues to expand its production and export of these products on December 27 in Hanoi.
The latest report from the International Energy Agency (IEA) projects that global investment in clean energy will exceed US$3 trillion in 2024, with approximately $2 trillion for clean technologies such as renewable energy and electric vehicles. It presents a significant opportunity for Vietnam’s solar energy industry, which is a leading producer of solar panels in the region and globally.
However, Vietnam’s solar panel manufacturing sector is also facing challenges from anti-dumping investigations by major markets, including India and the US.
Ms. Nguyen Yen Ngoc, Head of the Foreign Trade Defense Handling Division (Trade Remedies Authority under the Ministry of Industry and Trade), announced that the US Department of Commerce (DOC) recently issued a preliminary ruling, applying temporary countervailing duties on Vietnamese exporters at rates of 0.81 percent and 2.85 percent. However, companies that do not cooperate could face tariffs as high as 292.61 percent.
She explained that these provisional rates are seen as a positive outcome for Vietnamese businesses, as they are the lowest among the four countries under investigation. However, she also noted that the DOC may still conduct further investigations into new subsidy claims and perform on-site verifications to confirm the information.
During the online discussion, Mr. Do Ngoc Hung, Trade Counselor and Head of the Vietnam Trade Office in the US, pointed out the significant challenge faced by export-oriented countries with large trade surpluses like Vietnam.
From the Government’s side, the Ministry of Industry and Trade has implemented various measures to support businesses in responding to trade defense cases. Ms. Nguyen Yen Ngoc stated, "We have handled 273 trade defense cases, which has given us valuable experience in assisting businesses with these disputes." The Ministry maintains an early warning system for products at risk of investigation and works closely with associations to help businesses prepare in advance.
