CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Vietnam steel using local substrate not subject to US's latest duties: Trade authority
Ngoc Thuy 10:55, 2019/07/04
Vietnam’s Ministry of Industry and Trade (MoIT) has been cooperating with the Vietnam Steel Association and local companies to provide information for the US regarding steel production process in Vietnam.
The US Department of Commerce's recent duties of up to 456% on certain steel products from Vietnam are not applicable to the ones using local substrate or countries other than South Korea and Taiwan, stated Trade Remedies Authority of Vietnam in a statement. 
 
Illustrative photo.
Illustrative photo.
Bloomberg previously reported the US Commerce Department decided to impose import duties on US-bound corrosion-resistant steel products and cold-rolled steel that were actually produced in South Korea and Taiwan before being shipped to Vietnam for minor processing.
​
US customs officials have been ordered to collect cash deposits at rates as high as 456.23% on imports of the steel products produced in Vietnam using material from South Korea and Taiwan.

According to Vietnam’s trade authority, the announcement was part of an investigation initiated by the US on August 2, 2018, following the country’s decision to impose anti-dumping duties on the same steel products originated from Taiwan and South Korea in 2016. 

During the investigation, Vietnam’s Ministry of Industry and Trade (MoIT) has been cooperating with the Vietnam Steel Association and local companies to provide information for the US regarding steel production process in Vietnam. 

The MoIT already warned Vietnamese companies over US tightening import procedures and trade protection measures and encouraged the use of locally made input materials or from other countries. 

In the meantime, the MoIT would continue to work with related parties to protect the rights of local enterprises in compliance with local laws and regulation of the World Trade Organization, while preventing trade fraud activities. 
Comments
Other news
10:42, 2025/01/22
Vietnam, Switzerland upgrade bilateral ties to comprehensive partnership
The two countries will deepen cooperation in areas such as innovation, green finance, intellectual property, and the exchange of expertise on developing international financial centers in Vietnam.
12:19, 2025/01/21
The Czech Republic sees Vietnam as most important economic partner in SEA
Prime Minister Pham Minh Chinh expects bilateral trade turnover to reach US$5 billion in the coming years.
21:45, 2025/01/15
Hanoi seeks 5% export growth in 2025
The city’s total import-export turnover reached US$60.1 billion in 2024, up 11% year-on-year.