Vietnam renews trade remedies measures on imported steel products
The Ministry of Industry and Trade has issued a decision to extend the application of measures on preventing evasion of safeguard duty to rolled steel and steel wire imported to Vietnam from March 22, 2020.
The steel products coded 7213.91.90, 7217.10.10, 7217.10.29, 7229.90.99, and 9839.10.00 will be subjected to anti-evasion tax.
Accordingly, steel products imported to Vietnam between March 22, 2020, and March 21, 2021, will be imposed with anti-evasion tax of 9.4%.
Imported products to Vietnam from March 22, 2021, to March 21, 2022, will be subjected to a tax rate of 7.9% while a rate of 6.4% will be applied to imported products from March 22, 2022, to February 21, 2023.
The aforementioned products will enjoy a 0% tax rate as of March 22, 2023.
The Ministry of Industry and Trade has also extended safeguard measures for steel billet and steel bars being imported to Vietnam until March 21, 2023.