Vietnam has been subject to a 25% import tariff on steel exports to the U.S. since 2018. Therefore, the latest round of tariffs imposed by the U.S. does not directly impact steel exporters in Vietnam. In fact, it could create a more level playing field, potentially giving Vietnamese steel a competitive edge in the U.S. market now that President Donald Trump applies the same rate across all exporting nations. The real challenge for steel producers in Vietnamese lies in other markets, particularly ASEAN and the EU, where competition is expected to intensify. A potential competitive edge for Vietnamese steel in the U.S. When Trump first announced the 25% tariff on imported steel and aluminum, many feared it would negatively affect Vietnamese exports to the U.S. Even domestic steel stocks saw a sharp decline. However, steel exporters and trade experts told The Saigon Times that a uniform 25% tariff on all major steel-exporting countries could actually work in Vietnam’s favor, as Vietnamese steel has already been subject to this rate since 2018. Trump recently signed executive actions formalizing the 25% tariff on steel and aluminum imports while eliminating all existing country-specific exemptions. Since Vietnam has been subject to this tariff under […]
Vietnam has been subject to a 25% import tariff on steel exports to the U.S. since 2018. Therefore, the latest round of tariffs imposed by the U.S. does not directly impact steel exporters in Vietnam. In fact, it could create a more level playing field, potentially giving Vietnamese steel a competitive edge in the U.S. market now that President Donald Trump applies the same rate across all exporting nations. The real challenge for steel producers in Vietnamese lies in other markets, particularly ASEAN and the EU, where competition is expected to intensify. A potential competitive edge for Vietnamese steel in the U.S. When Trump first announced the 25% tariff on imported steel and aluminum, many feared it would negatively affect Vietnamese exports to the U.S. Even domestic steel stocks saw a sharp decline. However, steel exporters and trade experts told The Saigon Times that a uniform 25% tariff on all major steel-exporting countries could actually work in Vietnam’s favor, as Vietnamese steel has already been subject to this rate since 2018. Trump recently signed executive actions formalizing the 25% tariff on steel and aluminum imports while eliminating all existing country-specific exemptions. Since Vietnam has been subject to this tariff under […]
Vietnam has been subject to a 25% import tariff on steel exports to the U.S. since 2018. Therefore, the latest round of tariffs imposed by the U.S. does not directly impact steel exporters in Vietnam. In fact, it could create a more level playing field, potentially giving Vietnamese steel a competitive edge in the U.S. market now that President Donald Trump applies the same rate across all exporting nations. The real challenge for steel producers in Vietnamese lies in other markets, particularly ASEAN and the EU, where competition is expected to intensify. A potential competitive edge for Vietnamese steel in the U.S. When Trump first announced the 25% tariff on imported steel and aluminum, many feared it would negatively affect Vietnamese exports to the U.S. Even domestic steel stocks saw a sharp decline. However, steel exporters and trade experts told The Saigon Times that a uniform 25% tariff on all major steel-exporting countries could actually work in Vietnam’s favor, as Vietnamese steel has already been subject to this rate since 2018. Trump recently signed executive actions formalizing the 25% tariff on steel and aluminum imports while eliminating all existing country-specific exemptions. Since Vietnam has been subject to this tariff under […]
Just over a month into 2025, people are already facing many unexpected developments.
Multiple surprises and dramatic policy shifts
First, the pace at which newly inaugurated...
With the risk of an escalating trade war and unpredictable tariff policies under U.S. President Donald Trump, exporters in Vietnam are anxiously racing to...
Since Donald Trump’s return to the White House, global trade uncertainties have mounted, with businesses closely monitoring new U.S. tariff policies.
On February 2, President...
The Government looks determined to achieve economic growth of over 8% this year. While supporting this growth scenario, the National Assembly Standing Committee has...
It is undeniable that Vietnam’s economic growth is increasingly reliant on monetary policy, while the effectiveness and ripple effects of fiscal policy have yet...
The U.S. administration is ramping up import tariffs, raising concerns that Vietnam could become a transshipment point for goods that avoid high U.S. tariffs.
Vietnamese...