Vietnam wants exclusion from US steel tariffs
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The Ministry of Industry and Trade (MoIT) has urged the US Government to consider excluding Vietnamese products from its newly announced tariff measures on imported steel and aluminium.
The ministry stressed that Vietnamese steel and aluminium products sold to the US are intended for use in civil construction, not for infrastructure or security-defence purposes, thus not affecting the US goal of ensuring its national security.
Moreover, Vietnam’s steel and aluminium products account for just a marginal proportion of US imports of those products, and neither cause nor threaten to cause damage to the US steel and aluminium industries, the MoIT said.
The ministry will continue to keep close watch on the situation and consider subsequent actions to ensure the legitimate interests of Vietnamese enterprises, while maintaining the growing trend of the comprehensive partnership between Vietnam and the US.
US President Donald Trump, on March 8, signed proclamations to impose a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum.
Questions & Answers
Q.What is the primary reason Vietnam's Ministry of Industry and Trade gives for its exclusion request?
What is the primary reason Vietnam's Ministry of Industry and Trade gives for its exclusion request?
The ministry argues Vietnamese steel and aluminium are for civil construction, not infrastructure or defence. Therefore, they do not affect US national security, which is the stated goal of the tariffs.
Q.Does Vietnam's Ministry of Industry and Trade believe their products harm the US industry?
Does Vietnam's Ministry of Industry and Trade believe their products harm the US industry?
No, the ministry states that Vietnamese steel and aluminium represent only a marginal proportion of US imports. They neither cause nor threaten damage to the US steel and aluminium industries.
Q.What tariffs has the US President imposed on imported steel and aluminium?
What tariffs has the US President imposed on imported steel and aluminium?
US President Donald Trump signed proclamations on March 8 to impose a 25 percent tariff on imported steel. Also, a 10 percent tariff has been imposed on imported aluminium.
Q.What action will Vietnam's Ministry of Industry and Trade take regarding the tariffs?
What action will Vietnam's Ministry of Industry and Trade take regarding the tariffs?
The ministry will continue to monitor the situation closely. They will consider further actions to protect the interests of Vietnamese enterprises and maintain the growing partnership with the US.
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