Vietnam imposes anti-dumping tax on Chinese aluminum products
Vietnam has imposed an anti-dumping tax on some aluminum products from China, just months after a similar levy targeting steel items, as the Southeast Asian nation looks to rein in an ever-increasing trade deficit with its giant neighbor, Trend with reference to Reuters reports.
An investigation launched in January found that Chinese dumping activities had seriously hurt domestic producers of aluminum, with some having to suspend output, the Ministry of Industry and Trade said.
The anti-dumping tax on some aluminum products from 16 Chinese companies ranges from 2.49% to 35.58% and took effect for five years from Sept. 28, the government said on its website on Wednesday.
Aluminum imports from China nearly doubled last year to at least 62,000 tonnes, the ministry added. The figure excluded the amount of aluminum that transited through Vietnam.
In June, Vietnam had imposed an anti-dumping tax of 3.45% to 34.27% on some Chinese steel products.
This year, Vietnam said it would crack down on goods of Chinese origin illegally labeled “Made in Vietnam” by exporters seeking to avoid U.S. tariffs on products made in China.
Vietnam relies on China, its largest trading partner, for materials and equipment for its labor-intensive manufacturing.
Vietnam’s trade deficit with China widened to $25.11 billion in the first eight months of this year, from $17.23 billion a year earlier.