The Trade Remedies Authority of Vietnam has advised wood enterprises against using imported peeled veneer from China in the production of plywood cores, aiming to prevent misrepresentation of Vietnamese origin in plywood exports to the United States. The authority also urged businesses to remain vigilant in monitoring and inspecting trade activities to mitigate risks of illegal transshipment.
Vietnamese exporters face potential anti-dumping or countervailing duty investigations from the US, following scrutiny over the origin of plywood materials. In June 2020, the US Department of Commerce (DOC) initiated a probe into trade remedy evasion concerning all plywood products imported from Vietnam.
After multiple extensions, the DOC issued its final determination in July 2023, ruling that plywood containing cores made from Chinese peeled veneer was circumventing trade measures imposed on Chinese plywood imports. However, plywood with cores sourced domestically or from other countries was exempted from these measures.
To ensure compliance, the DOC introduced a self-certification mechanism allowing eligible Vietnamese exporters to be exempt from trade penalties. The Trade Remedies Authority has advised businesses to maintain comprehensive records and documentation tracing the origin of raw materials to facilitate verification by US authorities.
Despite a sharp decline in US plywood imports following the DOC’s investigation, demand remains strong. In 2022, US hardwood plywood imports peaked at $2.8 billion before dropping 47% to $1.5 billion in 2023. By 2024, the sector showed signs of recovery, with total wood product imports into the US reaching $22.9 billion, of which hardwood plywood accounted for 7.1%, totalling $1.6 billion.
Vietnam has consistently held the top position among hardwood plywood exporters to the US. In 2022, Vietnamese hardwood plywood exports to the US were valued at $670 million, representing 23.7% of total US imports in this category.
The figure dropped to $334.3 million in 2023 but still accounted for 22.3% of total imports. By 2024, exports rebounded to $414.8 million, increasing Vietnam’s share to 25.3% of the US market. From 2022 to 2024, Vietnam remained the leading supplier of hardwood plywood to the US, highlighting its critical role in the global wood products trade.
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