Vietnam’s Ministry of Industry and Trade (MOIT) has announced that it has decided to terminate the safeguard duty on the imports of billet falling under the Customs Tariff Statistics Position Numbers 7207.11.00, 7207.19.00, 7207.20.29, 7207.20.99, 7224.90.00, and 7224.90.00, while it has extended the measure for the imports of long steel products.
The safeguard duties on the imports of long steel products are at 6.3 percent effective from March 22, 2023 to March 21, 2024, 6.2 percent from March 22, 2024 to March 21, 2025, 6.1 percent from March 22, 2025 to March 21, 2026 and zero percent from March 22, 2026 onwards.
The long steel products in question currently fall under the Customs Tariff Statistics Position Numbers 7213.10.10, 7213.10.90, 7213.91.20, 7214.20.31, 7214.20.41, 7227.90.10, 7227.90.90, 7228.30.10, 7227.90.10, 7227.90.90, and 7228.30.10.