The European Commission (EC) has decided to initiate an investigation into imports of 26 steel products to its member countries (Photo: VNA) Hanoi (VNA) - The European Commission (EC) has decided to initiate a safeguard investigation concerning imports of 26 steel products, including those from Vietnam, to its member countries. The investigated product categories include alloy hot rolled sheets and strips, organic coated steel, stainless cold rolled sheets and strips, and metallic coated sheets. The Ministry of Industry and Trade said the safeguard investigation was being initiated, because the imports of certain steel products have increased sharply recently, necessitating safeguard measures. According to EC, the information currently available with the commission indicates that the total imports of the products increased from 17.8 million tonnes to 29.3 million tonnes in the 2013-2017 period. Similarly, imports of the products increased by some 65 percent between 2013 and … [Read more...] about EC launches investigation of steel imports
Imported
China slaps retaliatory tariffs on 128 US imports
China on Monday (Apr 2) imposed tariffs on 128 US imports worth US$3 billion, including fruits and pork, retaliating for US duties on steel and aluminium that Beijing said "seriously infringed" Chinese interests. China on Monday imposed new tariffs on 128 US imports worth US$3 billion in retaliation to US duties on steel and aluminium. (AFP/STR) China's move, which the Xinhua news agency said was decided by the custom tariffs commission of the State Council, followed weeks of rhetoric that has raised fears of a trade war between the world's two biggest economies. The Trump administration had said its duties were aimed at steel and aluminium imports that it deemed a threat to US national security, but China's Commerce Ministry on Monday called that reasoning an "abuse" of World Trade Organization (WTO) guidelines. The US measures "are directed only at a few countries, seriously violating the principle of non-discrimination as a cornerstone of the multilateral trading system, … [Read more...] about China slaps retaliatory tariffs on 128 US imports
Imports, domestically assembled cars in battle for market share
Imported CBU (completely built unit) cars are expected to flood Vietnam, as domestic automobile manufacturers prepare to launch new models. Domestic automobile manufacturers plan to launch new models The Ministry of Transport (MOT) has stirred up the market by accepting an Indonesian Vehicle Type Approval (VTA) certificate. Three imported cars from Indonesia arrived last week from March 16-22. Prior to that, a large quantity of Thailand sourced cars were reportedly docked at Vietnam’s ports, ready for delivery after customs clearance. While importers rush to import cars, domestic automobile manufacturers have geared up with their production plans. VinFast, a newcomer in the market, has announced a plan to manufacture two more small-size petrol-run and electricity-run models, scheduled to hit the market in 2019. Hyundai Thanh Cong and Hyundai Group in South Korea have signed an MOU on building a new factory in 2019 which will help increase output for exports. … [Read more...] about Imports, domestically assembled cars in battle for market share
EC investigates steel imports
The European Commission (EC) has decided to initiate a safeguard investigation concerning imports of 26 steel products to its member countries. Steels imported from Viet Nam will also be under investigation. The investigated product categories include alloy hot rolled sheets and strips, organic coated steel, stainless cold rolled sheets and strips, and metallic coated sheets. The Ministry of Industry and Trade on Friday said the safeguard investigation was being initiated, because the imports of certain steel products have increased sharply recently, necessitating safeguard measures. According to EC, the information currently available with the commission indicates that the total imports of the products increased from 17.8 million tonnes to 29.3 million tonnes in the 2013-17 period. Similarly, imports of the products increased by some 65 per cent between 2013 and 2016. The main increases took place in 2015 and especially in 2016, when they reached 28.6 million tonnes. The imports of … [Read more...] about EC investigates steel imports
Car imports rise again as firms adjust to rules
The General Statistics Office of Viet Nam (GSO) estimated that imports of completely built-up cars in April will likely jump in both volume and value compared to the previous month. Imports have increased again after several months of dropping as the Vietnamese Government issued Decree 116 in October last year, stipulating the conditions for production, assembly, import and business of automobile warranty and maintenance services, which auto importers in Viet Nam deem as obstacles, especially regulation required the Vehicle Type Approval (VTA) Certificate to be issued by the exporting country. The jump in imports indicates that importers have found ways to fully meet the requirements of Decree 116. Under the ASEAN Free Trade Agreement commitments, the import tax rate of cars from ASEAN countries became zero per cent in January this year. Under this policy, at least 40 per cent of the parts used in each vehicle must be made in the country of origin. After the approval by the Viet … [Read more...] about Car imports rise again as firms adjust to rules