Mubasher: The US government will raise tariffs on Chinese steel imported from Vietnam to evade US anti-dumping and anti-subsidy orders, especially cold-rolled steel and corrosion-resistant steel.  

The decision follows the world’s two largest economies agreement on dropping their tariff threats.

According to the US new decision, importers will be required to post deposits to pay tariffs ranging between 39% and 256%, the US Commerce Department said.

“US steel producers complained imports of Chinese-made steel through other countries soared after Washington imposed anti-dumping charges in 2015 to offset what it said were improper subsidies by Beijing,” CNBC reported.

It is worth noting that imports of cold-rolled steel from Vietnam hiked to $215 million instead of $9 million, while corrosion-resistant steel surged to $80 million from $2 million.