The Vietnamese Commerce Ministry stated this week it’s going to impose non permanent anti-dumping tariffs on some galvanized metal merchandise from China and South Korea.
The tariffs have been evidently prompted by stress from Vietnam’s Metal Affiliation, which has been asking for defense from quickly growing Chinese language and South Korean metal imports since February. Vietnam has beforehand imposed anti-dumping tariffs on different types of metal imported from China.
The Vietnamese Commerce Ministry started an investigation of galvanized metal dumping in June 2024 on the request of 5 main home metal firms. The most important of these firms, Hoa Sen Group, holds 27.6 % of the Vietnamese metal market.
The Vietnamese Commerce Business stated that starting on April 16, all however a couple of Chinese language producers of galvanized metal merchandise could be hit with a tariff of 37.13 %.
Most South Korean metal producers might be levied at 15.67 %, though Hyundai Metal can pay solely 13.7 % and some others might be exempt.
The ministry stated these tariffs have been essential to “curb the speedy progress of imports which might trigger severe hurt to the home business.” In accordance with its assertion, imports of galvanized metal from China and South Korea have elevated by 20% for the reason that anti-dumping investigation started in June.
America has, in flip, named Vietnam alongside China and South Korea as a number of the many international locations dumping metal into U.S. markets to drive costs down and weaken the U.S. metal business.
President Donald Trump imposed a 25 % tariff on most steel imports in February, and it took impact in March. On Wednesday, Trump introduced a 46 % tariff on all imports from Vietnam as a part of his “Liberation Day” tariff rollout.
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