FX.co ★ Vietnam Imposes Up to 27.83% Anti-Dumping Tariff on Chinese Steel

Vietnam has introduced an anti-dumping tariff of up to 27.83% on specific hot-rolled coil steel imports from China, as declared by the Ministry of Trade on Monday. This tariff, effective from July 6, will be in place for five years following the expiration of a prior temporary measure. Earlier, in March, the ministry had established a provisional anti-dumping duty that lasted for 120 days. This action followed the launch of an investigation in July 2024, initiated after Vietnamese manufacturers raised concerns about unfair trading practices. The companies affected by the 27.83% levy include Baoshan Iron & Steel and Maanshan Iron & Steel. Additionally, Guangxi Liuzhou Iron and Steel Group will now incur a duty of 23.1%, up from the 19.38% rate applied in March, as stated by the ministry. Between January and September of the previous year, Vietnam imported approximately 8.8 million tons of hot-rolled steel, with 72% of these imports originating from China.