It is reported that the Vietnamese government is likely to lower import duties on steel. Sources say that the import duty cut would probably be 2%-3%. The cut would take place for certain products with effect from 8 August. Currently, no official announcement has been made. Followings are the list of tentative duty cut for certain products.
- Billet import duty from 5% to 2%
- Construction steel long product import duty from 10% to 8%
- Metallic and color coated steel product import duty from 12% to 10%
- Cold rolled coil import duty from 7% to 5%