Vietnam MOT proposes tariff reduction for steel ingots

Vietnam MOT proposes tariff reduction for steel ingots

The Vietnamese Ministry of Finance announced today that the Ministry of Trade (MOT) submitted a proposal to the government for reduction of import duties on steel ingots from 5% to %0 applicable for the imports of subject merchandise both from inside and outside of ASEAN (Association of Southeast Asian Nations) countries. The proposal aims to increase local steel production so that domestic demand is met.