Global Economic And Trade News Of Note
- Vietnam’s Ministry of Industry and Trade announced just before the holiday that it will impose tariffs of between 4.43 percent and 25.22 percent on imports from 16 Chinese producers of cold-rolled steel products. The tariffs, which impact coils or sheets of a width of less than 1,600 mm and between 0.108 mm-2.55 mm thickness, took effect on December 28, 2020 and will be in place for five years. In a statement, the ministry said, “The domestic manufacturing industry is under threat of considerable damages as key indicators such as profit, inventory, and market share are poor.” Click here to read more.
- As Reuters reported, the Malaysian government recently imposed anti-dumping duties on flat-rolled steel products that are non-alloy steel plated or coated with aluminum and zinc from China, South Korea, and Vietnam for five years. The Ministry of International Trade and Industry set the duties at between 2.18 percent to 18.88 percent for products from China; between 9.98 percent to 34.94 percent for products from South Korea; and between 3.06 percent to 37.14 percent for products from Vietnam. The penalties went into effect on December 12, 2020 and will be imposed until December 11, 2025.