Vietnam, South Korea impose anti-dumping tariffs on Chinese steel products

Vietnam has announced a temporary anti-dumping tariff of up to 27.83% on certain hot-rolled coil steel products from China, set to take effect on March 7 for a duration of 120 days. This decision follows a complaint from local producers and aligns with similar moves by other countries, including the U.S., which recently imposed 25% tariffs on all steel imports. In India, Tata Steel's CEO expressed optimism about the government's consideration of anti-dumping duties due to an influx of cheap Chinese steel, particularly against the backdrop of potential U.S. tariff hikes. Meanwhile, South Korea's trade commission has also proposed antidumping tariffs on Chinese thick steel plates, citing concerns over domestic industry damage. These developments reflect growing global tensions in the steel market as various nations seek to protect their industries from low-priced imports. Each country’s decision to impose tariffs highlights the interconnectedness of global steel trade and the competitive challenges faced by domestic producers.