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Concerned about Chinese steel, the Ministry of Finance proposed to increase steel import tax
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The Ministry of Finance proposes to increase the preferential import tax rate (MFN) for hot rolled coil group 72.08 to 5% instead of the current level of 0%.
The Ministry of Finance has just issued an official letter requesting the draft Decree to amend and supplement Decree 125 on export tariffs, preferential import tariffs, list of goods and absolute tax, mixed tax and tax. Imports outside tariff quotas.
Under the draft Decree, the Ministry of Finance proposes to increase tax on hot rolled steel products of heading 72.08 to 5% instead of 0% as currently.
According to the Ministry of Finance, the US-China trade war is raising fears that Chinese cheap steel may flow into Vietnam, dragging down steel prices on the market. This makes the largest steel production plant in Vietnam is considering suspending plans to deploy blast furnace No. 3.
Besides, each year Vietnam imports more than 8 million tons of hot rolled steel, of which 40% is imported from China. If there is no import tax on products, cheap rolled steel will continue to overflow from China, which will destabilize Vietnam's steel market.
Meanwhile, Vietnam now produces some hot rolled steel products by itself, meeting nearly 50% of domestic and export demand. It is expected that by the end of 2019, this number will increase to 70% when the factory of Hoa Phat Company in Dung Quat, Quang Ngai and Formosa company is put into operation.
Walking, Ministry of Finance and Finance, their department.
Their culture has only one part of them, which has a part of it. success ", Ministry of Finance believes.
Your love, among friends who are interested in using part of their companion.
However, when you have the right to use 5%, when you can use 5%, you can use 5% (China, ASEAN, Korea). Keywords, number of different things.
At the same time, up to 5% of their instructions. However, only part of them. Smart, take care of your health and health.
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18/8/2025
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