×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: vietnam | steel | us | duties

US Slaps Import Duties of More Than 400% on Vietnam Steel

US Slaps Import Duties of More Than 400% on Vietnam Steel
(Christian-Lagereek/Dreamstime)

Wednesday, 03 July 2019 09:21 AM EDT

The U.S. Commerce Department said on Tuesday it would impose duties of up to 456% on certain steel produced in South Korea or Taiwan that are then shipped to Vietnam for minor processing and finally exported to the United States.

The agency said in a statement that it had found corrosion-resistant steel products and cold-rolled steel produced in Vietnam using substrate of South Korean or Taiwanese origin had circumvented U.S. anti-dumping and anti-subsidy duties.

The duties on South Korean and Taiwanese products were imposed in December 2015 and February 2016. Since those dates through April 2019, shipments of corrosion-resistant steel products and cold-rolled steel from Vietnam to the United States had increased by 332 percent and 916 percent compared with similar periods immediately before, the statement said.

It said the Commerce Department inquiry was initiated at the request of ArcelorMittal SA's U.S. unit, Nucor Corp , United States Steel Corp, Steel Dynamics Inc , California Steel Industries, and AK Steel Corp. 

© 2023 Thomson/Reuters. All rights reserved.


Markets
The U.S. Commerce Department said on Tuesday it would impose duties of up to 456% on certain steel produced in South Korea or Taiwan that are then shipped to Vietnam for minor processing and finally exported to the United States.
vietnam, steel, us, duties
161
2019-21-03
Wednesday, 03 July 2019 09:21 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved