HANOI May 31 Vietnam will impose quotas and
so-called safeguard duties on imported painted-galvanised steel
from China, South Korea and Taiwan for three years to protect
domestic producers, its trade ministry said on Wednesday.
Imports of painted-galvanised steel sheets into Vietnam
surged more than 70 percent last year, hurting the market share
of domestic producers, the ministry said in an online statement.
The safeguard duty-free quota for Chinese imports will be
kept at 323,120 tonnes for one year from mid June and will
increase slightly every year until mid 2020, with the duty
imposed beyond that set at 19 percent, the statement said.
China said last year it hoped Vietnam would exercise
restraint and be prudent in its use of trade measures as the
world's second-biggest economy found itself in an increasing
number of disputes with trading partners that accuse it of
dumping subsidised exports.
South Korean and Taiwanese firms also face specific quotas
Vietnam's trade ministry said imports of painted-galvanised
steel sheets surged to 590,685 tonnes in 2016, from 130,798
tonnes in 2013, causing domestic inventory of the products last
year to rise 38 percent from 2015.
A stalling Trans Pacific Partnership agreement and global
complications causing delays in implementing many free trade
deals also troubled exporters, the ministry said.
(Reporting by Mai Nguyen; Editing by Mark Potter)