Flexible response needed to proposed US aluminum and steel tariffsAlbeit not being listed among the top 10 largest exporters to the US, the Vietnamese steel industry may still suffer once the US applies new safeguard tariffs. Imported steel and aluminum were therefore the core materials to feed major US industries like car and airplane manufacturing or consumer goods production. The third scenario involves the proposed application of at least 24 per cent tariff on steel imports globally. Currently, leading Vietnamese steel exporters to the US are Ton Hoa Sen, Ton Nam Kim, and Ton Dong A JSCs. With the second and third scenarios, the losses of the Vietnamese steel industry might be lower, but it could hamper the sector’s development in the future.

Source: VietNamNet News March 07, 2018 08:37 UTC