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 […]
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