Vietnam is set to implement a temporary anti-dumping tax on certain galvanized steel imports from China and South Korea.
According to a statement released by the Ministry of Industry and Trade on April 1, starting April 16, selected Chinese steel products will face tariffs as high as 37.13%, while South Korean imports will see levies up to 15.67%.
Notably, leading Chinese steel enterprises, including Baoshan Iron & Steel, will be subject to the maximum 37.13% rate. In contrast, Boxing Hengrui New Material and Yieh Phui Technomaterial will enjoy exemptions from this tariff.
Meanwhile, Hyundai Steel of South Korea will encounter a 13.7% duty, and other South Korean manufacturers will face a tariff of 15.67%, with POSCO, KG Dongbu Steel, and Dongkuk Coated Metal being exempted.
This protective measure aligns with the Vietnam Steel Association’s advocacy in February, which concerned the strain on the domestic steel market due to the influx of galvanized steel imports from China and South Korea.
Vietnam had also previously initiated anti-dumping duties on Chinese hot-rolled steel in March, imposing rates from 19.38% to 27.83%.
Concurrently, on the international stage, the U.S. has imposed a substantial 46% tariff on Vietnamese imports. This development raises questions regarding its potential impact on Vietnam’s steel industry, which has already been under pressure from a 25% U.S. tariff on all steel imports, along with prior anti-dumping penalties on various Vietnamese steel products.
