VIETNAM has imposed anti-dumping duties on certain Chinese steel products, a move that analysts said aligns with growing US pressure to curb transshipment and rerouting of Chinese exports through Southeast Asia, reports Caixin.
Vietnam's Ministry of Industry and Trade announced the new tariffs, saying they had taken effect on July 6 and would remain in place for five years. The duties target hot-rolled steel products originating from China, a key material in industrial manufacturing.
The tariffs will affect more than 10 major Chinese steel producers, including China Baowu Steel Group, Ansteel Group, Beijing Shougang Co, Inner Mongolia Baotou Steel Union Co, Jiangsu Hebei Iron and Steel Shagang Group and others. Tax rates have been set at three tiers: 27.83 per cent, 26.94 per cent and 23.1 per cent.
The decision comes at a sensitive moment. Only days earlier, on July 2, US President Donald Trump said the US had reached a trade agreement with Vietnam. Under the deal, all Vietnamese exports to America would face a 20 per cent tariff, while Chinese goods transshipped through Vietnam would be hit with a 40 per cent duty.
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