Business
11:52, 22-May-2018
US slaps heavy duties on Chinese steel shipped from Vietnam
["other"]
Share
Copied
00:44
The US Commerce Department on Monday slapped steep import duties on steel products from Vietnam that originated in China after a final finding they evaded US anti-dumping and anti-subsidy orders.
US customs authorities will collect anti-dumping duties of 199.76 percent and countervailing duties of 256.44 percent on imports of cold-rolled steel produced in Vietnam using Chinese-origin substrate, the Commerce Department said in a statement.
Corrosion-resistant steel from Vietnam faces anti-dumping duties of 199.43 percent and anti-subsidy duties of 39.05 percent, it said.
The department has said it would apply the same Chinese anti-dumping and anti-subsidy rates on corrosion-resistant and cold-rolled steel from Vietnam that starts out as Chinese-made hot-rolled steel.
The duties will come in addition to a 25-percent tariff on most steel imported into the United States that resulted from the Trump administration’s “Section 232” national security investigation into steel and aluminum imports.
Although the steel subject to the latest anti-dumping and anti-subsidy duties was processed in Vietnam to be made corrosion resistant or cold-rolled for use in autos or appliances, the Commerce Department agreed with the claims of American producers that as much as 90 percent of the product’s value originated from China.
The decision followed a European Union finding in November that steel shipments from Vietnam into the EU also circumvented tariffs.
Source(s): Reuters