Vietnam Reimposes Safeguard Duty on Import of Billets

To protect the domestic billet industry, Vietnam has reimposed the safeguard duty of 17.3% on the Malaysian and Kazakhstan billet imports. The new duty will be effective from 13 Jun'19 and will continue till Mar'2020

In the mid-term review the country has identified Malaysia and Kazakhstan have exceeded the 3% threshold of total billet imports and hence the ministry has therefore removed the exemption on billet imports from these two countries. Earlier in Jul'16, billet imports from these two countries were exempted from the safeguard duties, when the Vietnam imposed safeguard measures on billet and long products