[Ferro-Alloys.com] Vietnam’s Ministry of Industry and Trade has extended safeguard measures for steel billet and steel bars imported to Viet Nam until March 21, 2023. According to Decision 918/QD-BCT issued on Friday, the safeguard duty is 15.3 per cent for steel billet and 9.4 per cent for steel bars during the period from March 22, 2020 to March 21, 2021. The tariff will be reduced to 13.3 per cent and 7.9 per cent for steel billet and steel bars, respectively, for the following year. And they will continue falling to 11.3 per and 6.4 per cent in the period from March 22, 2022 to March 21, 2023. The duty will decrease to zero per cent from March 22, 2023 if the ministry does not renew the safeguards.

 

Countries and territories exempted from the safeguard duties are those in North Africa, sub-Saharan Africa, Middle East, Asia Pacific and Latin America-Caribbean, and some in Europe, Central Asia and South Asia.（STEELGURU）