The authority also urged businesses to continue monitoring and inspecting the export and import of these products to prevent illegal transhipment and the misrepresentation of Vietnamese origin.

They should be aware of the potential risk that the US may initiate further anti-dumping or countervailing duty investigations into these products.

In June 2020, the US Department of Commerce (DOC) launched an investigation into trade remedy evasion concerning all plywood products imported from Vietnam.

After multiple extensions, the DOC issued its final determination in July 2023. Plywood imported from Vietnam into the US containing cores made from peeled veneer imported from China is considered to circumvent trade remedy measures imposed on Chinese plywood imports.

However, plywood from Vietnam with cores made from veneer produced domestically or in other countries is not considered circumvention. The DOC has allowed eligible Vietnamese exporters to participate in a self-certification mechanism to be exempt from the trade measures.

Businesses should maintain thorough records and documentation tracing the origin of raw materials in a systematic manner to provide evidence to US authorities when required for verification.

Following a sharp decline due to the DOC's trade remedy circumvention investigation, US demand for plywood imports remains significant.

In 2022, the value of US hardwood plywood imports reached a record high of US$2.8 billion. In 2023, the value dropped by 47% compared to the previous year, falling to US$1.5 billion.

By 2024, import values showed a slight recovery, with total wood product imports into the US reaching US$22.9 billion. Of which, hardwood plywood imports accounted for 7.1%, totalling US$1.6 billion.

According to the Trade Remedies Authority, Vietnam holds the highest value of hardwood plywood exports to the US among major exporting countries.

In 2022, Vietnam’s hardwood plywood exports to the US were valued at US$670 million, accounting for 23.7% of total US hardwood plywood imports.

In 2023, the export value declined to US$334.3 million but still represented 22.3% of the total.

By 2024, this figure rebounded to US$414.8 million, accounting for 25.3% of total US imports in this category.

From 2022 to 2024, Vietnam remained the leading supplier of hardwood plywood to the US.

US again extends duty evasion investigation into plywood from Vietnam

VOV.VN - The US Department of Commerce (DOC) has announced the extension of the deadline for issuing its final conclusion on a trade remedy duty evasion investigation into hardwood plywood imported from Vietnam, according to the Trade Remedies Authority of Vietnam.