Việt Nam urges exporters to diversify markets as Egypt tightens steel import duties

Việt Nam urges exporters to diversify markets as Egypt tightens steel import duties

Egypt has issued a series of decisions to impose definitive safeguard duties on imports of cold-rolled steel, coated and color-coated steel, hot-rolled steel and steel billets.

Trav advises businesses to proactively adjust export strategies in line with the phased tariff reduction, optimise pricing structures and explore alternative markets or higher-value product segments to mitigate the impact of the safeguard duties. — VNA/VNS Photo

Trav advises businesses to proactively adjust export strategies in line with the phased tariff reduction, optimise pricing structures and explore alternative markets or higher-value product segments to mitigate the impact of the safeguard duties. — VNA/VNS Photo

HÀ NỘI — In response to Egypt’s imposition of safeguard measures on a wide range of imported steel products, the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade has advised domestic exporters to take proactive steps to mitigate risks.

Businesses are urged to review product categories to identify potential exemptions, particularly for steel products with specific technical specifications.

They should also reassess business efficiency, especially for steel billets, as minimum duty levels could significantly impact competitiveness.

The authority emphasised the need to closely monitor Egypt’s periodic reviews of these measures and maintain regular contact with import partners to stay updated on market developments and, where appropriate, seek adjustments.

Amid rising global trade protectionism, exporters are encouraged to diversify markets and leverage free trade agreements to reduce reliance on any single destination.

According to the authority, Egypt has issued a series of decisions to impose definitive safeguard duties on imports of cold-rolled steel, coated and color-coated steel, hot-rolled steel and steel billets, following findings of a sharp surge in imports that caused serious injury to domestic producers.

Under the new measures, Egypt applies combined tariffs that include percentage-based import duties along with minimum fixed charges on affected products, with rates set to gradually decline over a three-year period starting from April 2 this year.

For cold-rolled steel (CRC), duties are set at 13.7 per cent of CIF value (minimum US$83 per tonne) in the initial phase through September 13, before easing to 13 per cent (minimum $79 per tonne) and 12.5 per cent (minimum $76 per tonne) in subsequent periods.

Galvanised steel (HDG/GI) is subject to duties of 14 per cent (minimum $93 per tonne) in the first phase, declining to 13.5 per cent (minimum $90 per tonne) and 13 per cent (minimum $86 per tonne) over the following two years.

Pre-painted steel (PPGI) faces the highest rates, starting at 14.5 per cent (minimum $122 per tonne), then gradually decreasing to 14 per cent (minimum $118 per tonne) and 13.5 per cent (minimum $114 per tonne).

Hot-rolled steel (HRC/HRFS) is subject to safeguard duties of 13.6 per cent (minimum $76 per tonne) in the initial phase, tapering slightly to 13.5 per cent and 13.4 per cent, with corresponding minimum thresholds of $75 and $74 per tonne.

Meanwhile, steel billets, which are semi-finished products widely used in downstream steel production, are subject to duties starting at 13.12 per cent (minimum $70 per tonne), falling to 12 per cent (minimum $64 per tonne) and 11 per cent (minimum $59 per tonne) over the three-year period.

Việt Nam’s iron and steel exports rose in the first quarter of 2026, with shipments reaching more than 2.9 million tonnes and export turnover of US$1.7 billion, up 6.9 per cent in volume and 4.18 per cent in value year-on-year, according to the Việt Nam Customs Department. 

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