Ministry proposes raising duties on steel exports, reducing tariffs on imports
HCMC – The Ministry of Industry and Trade has decided to keep in place the antidumping duties on cold-rolled steel coil and sheet imports from China.
Vietnam would levy antidumping duties ranging from 4.43% to 25.22% on cold-rolled steel coil and sheet imports from China.
The duties, imposed in December 2020, aim to protect local steel production after considering the interests of local producers and steel importers from China.
In 2019, local steel manufacturers asked the authorities to launch an antidumping probe into cold-rolled steel from China.
Findings of the investigation showed that cold-rolled steel imported from the northern neighbor topped 272,000 tons in the period, making up 65.5% of the total cold-rolled steel imports into Vietnam, injuring local manufacturers as key indicators such as profit, inventory and market share were poor.
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