Vietnam levies protective tariffs upon colored steel imported from China and other countries
2017-06-05 17:13:17 [Print]
Vietnamese media reported on June 1 that, Vietnamese Minister of Industry and Trade signed on May 31 an act about levying protective tariffs upon 8 models of colored steel products from China, South Korea, and Taiwan, and the act would go into force 15 days later after signing. According to the act, Vietnam will adopt a 3-year import quota upon colored steel products, including: tariff-free quota is 380,000t in the first year (from 15 June, 2017 to 14 June, 2018), 420,000t in the second year and 460,000t in the third year, and imports of colored steel beyond the tariff-free quota are subject to a tariff rate of 19% during the three years and will be free of tariffs from the fourth year on, if the protective quota is not prolonged. The protective tariffs will be collected as a supplementary part of import tariffs.
The import quota consists of 323,000-390,000t from China, 34,500-41,700t from South Korea, 14,400-17,500 from Taiwan. In 2016, Vietnam imported about 1.85 million tons of colored steel, of which 60% came from China.
The import quota consists of 323,000-390,000t from China, 34,500-41,700t from South Korea, 14,400-17,500 from Taiwan. In 2016, Vietnam imported about 1.85 million tons of colored steel, of which 60% came from China.
