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Vietnamese Ministry of Finance intends to raise import tariffs on Chinese hot-rolled products—The 21st China(Guangzhou)Int’l Heat Treatment, Industrial Furnace Exhibition
8/21/2019 热处理展-工业炉展-heat treatment expo-furnace expo |
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Because of the huge amount of imported Chinese hot-rolled steel into the Vietnam market at a very low price affecting the local steel prices stability, Vietnamese Ministry of Finance intended to raise the import tariffs in order to alleviate the threat of low prices to the market.
Vietnamese Ministry of Finance suggested raising the MFN (Most-Favored-Nation Treatment) import tax rate on Chinese imported hot-rolled steel products, under HS code 72.08, from 0% to 5%. The Department announced its amendment on its official website last week.
Vietnam''s Ministry of Finance pointed out that Vietnam imported more than 8 million tons of hot-rolled steel every year, and 40% of them was imported from China. If the government did not impose tax on these products, it would destabilize the Vietnamese steel market.
However, this strategy would benefit Taiwanese mills because of the zero tariffs on Taiwanese hot-rolled steel to Vietnam.
热处理展-工业炉展-2020第二十一届广州国际热处理、工业炉展览会-中国效果最好的热处理工业炉展--巨浪展览
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