New US tax a blow to Vietnam steel industry

It had been thought that the US president would take more time to consider the decision. The Vietnam Steel Association has yet to make a statement or decide on the course of action following the announcement. However, stopping steel exports to the US seems unavoidable.

It can be seen that the domestic sales ratio of Vietnamese steel companies with steel exports to the US is still high at 60-70%. Thus, increasing domestic sales and changing export markets is one solution to sustain growth.