Vietnam to Increase Tariff on Alloy Steel Imports

According to Vietnam Economy on July 19, 2011, currently Vietnam takes zero tariff measure on the imports of alloy steels containing boron, and the price of this kind of alloy steels is 300,000 VND per ton lower than the price of Vietnam's domestic similar steels as enjoying the preferential tax rate, which has affected Vietnam's domestic steel production.

Therefore, several days ago, Vietnam Ministry of Finance noticed that it will increase import tariff from zero to 10%.on alloy steel containing boron from August 25, 2011.