US imports from Vietnam have skyrocketed since the US imposed duties on the Chinese product two years ago, indicating companies are circumventing US duties by passing through Vietnam, the Commerce Department said. The duties on the Chinese product were designed to compensate for product produced at below cost and dumped into the US market. Since then, imports of corrosion-resistant steel from Vietnam have jumped to $80 million a year from just $2 million, while cold-rolled steel surged to $215 million from $9 million, according to the statement. Importers of the product from Vietnam can file for an exemption from the duties if they can prove the material used in production originated outside of China. The Trump administration in April also launched national security investigations into Chinese aluminum and steel imports, warning the country's overcapacity threatened to undermine producers crucial to US defense needs.

Source: The Nation Bangkok December 05, 2017 23:15 UTC