Vietnam urges US to think twice about steel tariffs
The Vietnamese Ministry of Industry and Trade (MOIT) has asked the United States to think carefully about proposals to restrict its steel and aluminium imports from Vietnam.
Latest
| TIN LIÊN QUAN | |
 | Exports of tra fish to UK increase |
| Vietnam eyes 21 billion USD in cultivation exports in 2018 |
On February 16, the US Department of Commerce (DOC) recommended that President Donald Trump impose high tariffs and quotas on steel and aluminium imports from Vietnam and several other countries.
 |
| The DOC has proposed imposing high tariffs on Vietnamese steel imports. (Photo: NDO) |
The DOC cited Section 232 of the Trade Expansion Act of 1962 stating that the quantities of steel and aluminium imports threaten to impair US national security.
But the trade volume from Vietnam accounts for a negligible proportion of total US imports, said the MOIT, advising that US actions must abide by WTO rules and international practices and must not hurt the fine trade relationship between the two countries.
The MOIT said it will follow developments regarding the incident closely and consider every possible measure to protect the legitimate rights of Vietnamese enterprises.
In its proposals, the DOC recommends imposing a tariff of at least 53% on all steel imports from Vietnam and 11 other countries and a strict quota on all steel products from all countries equal to 63% of each country’s 2017 exports to the US.
The final decision on the matter is expected to be made by the US president before April 11 for steel imports and April 19 for aluminium imports.
 | Import-export surges nearly 40 percent Vietnam’s import-export revenue amounted to 57.12 billion USD from the beginning of 2018 to mid-February, up 37.2 percent compared to the same period last year. |
 | Trade counsellors praised for helping boost Vietnam exports Localities and businesses appreciate the efforts made by Vietnamese trade counsellors in helping the country’s businesses boost their exports, and want them to continue providing ... |
 | Reduced Australian tariff to boost Vietnam exports Australia will cut 90 percent of import tariff lines in 2018 and 100 percent of them in 2020 under the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) ... |
(Source: NDO)
Multimedia
Infographics Photos Videos E magazine
