Global News Of Note: Vietnam Imposes New Duties On Chinese Steel
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- As Reuters reported, the Vietnamese government has announced it will impose a temporary anti-dumping levy of up to 27.83 percent on hot-rolled steel products imported from China starting March 7, 2025. The penalties will be in place for 120 days. Vietnam has opted not to impose tariffs on shipments of these products from India. The total value of steel and iron ore and steel and iron products imported from China into Vietnam last year was nearly $12 billion.
- The U.S. International Trade Commission (ITC) has determined revoking the United States’ existing antidumping and countervailing duty orders on steel racks from China would likely lead to continuation or recurrence of material injury within a reasonably foreseeable time. As a result, existing orders on imports of these products will remain in place. The ITC’s public report on this matter will be available by March 27,2025 at this link.