The Ministry of Vietnamese Trade said that this week it would impose temporary anti-dumping tariffs on some galvanized steel products in China and South Korea.
The tariff was clearly inspired by the pressure from the Steel Association of Vietnam, which has been done Demanding From February to protect rapidly growing Chinese and South Korean steel imports. Vietnam has earlier imposed anti-dumping tariffs on other forms of steel imported from China.
Ministry of Vietnamese Trade began Investigation of galvanized steel dumping in June 2024 at the request of five major domestic steel companies. The largest of those companies, HOA Sen Group, is 27.6 percent of the Vietnamese Steel Market.
The Vietnamese trade industry stated that starting from April 16, some but some Chinese manufacturers of galvanized steel products would be hit with a tariff of 37.13 percent.
Most South Korean steel manufacturers will be levied at 15.67 percent, although Hyundai Steel will pay only 13.7 percent and some others will be exempted.
The ministry said that these tariffs “were required to curb the rapid development of imports that could cause serious damage to the domestic industry.” According to its statement, the imports of liberal steel from China and South Korea have increased by 20% since the dumping investigation began in June.
The United States, in turn, has named Vietnam along with China and South Korea, as some of many countries have dumped steel in US markets to reduce prices and weaken the American steel industry.
President Donald Trump Imprisonment 25 percent tariff on most metal imports in February, and it came into effect in March. On Wednesday, Trump announced 46 percent tariff on all imports from Vietnam as part of his “liberation day”, Tariff rollout,
