Posted on 24 Mar 2023
According to a notice issued by the Ministry of Industry and Trade of Vietnam on March 21, 2023, Vietnam decided to extend the safeguard measure on alloy and non-alloy long steel products, valid for another three years.
The safeguard duty for long steel products is 6.3% for the period from March 22, 2023 to March 21, 2024, 6.2% from March 22, 2024 to March 21, 2025, and 6.1% from March 22, 2025 to March 21, 2026. The duty will be lowed to zero after March 22, 2026.
The long steel products involved are classified under HS codes 7213.10.10, 7213.10.90, 7213.91.20, 7214.20.31, 7214.20.41, 7227.90.10, 7227.90.90, and 7228.30.10.
On the contrary, the safeguard measure on steel billet products will be no longer applicable. The billet products are under HS codes 7207.11.00, 7207.19.00, 7207.20.29, 7207.20.99, and 7224.90.00.
This determination takes effect from March 22, 2023.
Source:Yieh
