More Than 400% import duties on Vietnam Steel | FASTENER EURASIA MAGAZINE
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U.S. Slaps Import Duties of More Than 400% on Vietnam Steel

In three preliminary circumvention rulings on Vietnamese steel, the Commerce Department said certain products produced in South Korea and Taiwan were shipped to Vietnam for minor processing before being exported to U.S. as corrosion-resistant steel products and cold-rolled steel. Customs officials have been ordered to collect cash deposits at rates as high as 456.23% on imports of the steel products produced in Vietnam using material from South Korea and Taiwan.

The U.S. is hardening its rhetoric against Vietnam, one of its major trading partners and an economy that’s benefiting from President Donald Trump’s trade war with China. Trump described Vietnam as “almost the single-worst abuser of everybody” when asked if he wanted to impose tariffs on the nation.