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Vietnam Hits Chinese and South Korea Steelmakers With Duties

Vietnam Hits Chinese and South Korea Steelmakers With Duties

(Bloomberg) --

Vietnam slapped five-year tariffs on Chinese and South Korean color-coated steel products after domestic producers said unfair pricing from overseas competitors caused them to shut down production lines.

Anti-dumping duties of 2.53% to 34.27% are being applied to steel products from China, Vietnam’s Ministry of Industry and Trade said in a statement on its website. Tariffs of 4.71% to 19.25% are imposed on steel products from South Korea.

The tariffs are effective October 24, the ministry said.

The move follows a five-year extension of anti-dumping duties on some cold-rolled stainless steel products from China, Indonesia, Malaysia and Taiwan, effective October 26, the ministry said last week.

Vietnam is continuing to levy 7.94% tariffs on products from Shanxi Taigang Stainless Steel Co. and 31.85% duties on imports from other Chinese exporters, it said. Tariffs of 10.91% to 37.29% are being extended to products from Malaysian, Indonesian and Taiwanese steelmakers.

To contact the reporter on this story: Mai Ngoc Chau in Ho Chi Minh City at cmai9@bloomberg.net

To contact the editors responsible for this story: John Boudreau at jboudreau3@bloomberg.net, Clarissa Batino

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