Econ
Vietnam stops US-bound Chinese aluminum forging Vietnam origin worth US$4.3 billion
Currently, Vietnamese aluminum exported to the US is subject to 15% import tariff, while similar Chinese products are applicable to a tax rate of up to 374%.
TGeneral Department of Vietnam Customs (GDVC) has timely prevented US$4.3-billion Chinese aluminum forging Vietnam’s origins from being exported to the US, according to Nguyen Van Can, director general of GDVC.
The case could potentially be the largest origin fraud to date in terms of export value, said Can in a meeting on October 28.
Can added an unnamed corporation, located in southern province of Ba Ria – Vung Tau, had imported 1.8 million tons of semi-aluminum products and aluminum bars for later export to the US and other countries, aiming to profit from unfair trade gains from preferential treatments.
Currently, Vietnamese aluminum exported to the US is subject to 15% import tariff, while similar Chinese products are applicable to a tax rate of up to 374%, Can said.
Such huge difference in import tariff has led to a growing number of enterprises in Ba Ria – Vung Tau importing foreign aluminum worth billions of US dollars, Can continued.
Can also revealed the GDVC is working with the US customs to verify the case, as US agents from the Department of Homeland Security have arrived in Hanoi to cooperate in the investigation.
Can stressed in case of companies importing aluminum bars or semi-aluminum products, then melt and form into different aluminum products, they are still not qualified for Vietnamese origin.
According to Can, the authority is stepping up efforts to prevent Vietnam from becoming a transshipment hub for foreign products.
Recently, Vietnam’s customs authorities have intervened in a number of cases of importing foreign products forging Vietnamese origin.
Can informed 10 containers of bicycles are being stopped at Binh Duong Custom Department. Preliminary results showed 100% of these products are imported from abroad, but later would be assembled in Vietnam for export.
Additionally, Hai Phong Custom Department also held containers of equipment and parts imported from abroad and subject to assembling in Vietnam to become made-in-Vietnam.
Similar cases involving clothes, footwear, phone accessories originated from China but labeled as Vietnamese goods for domestic use are being found in ports in Hai Phong, Ho Chi Minh City, Binh Duong, Dong Nai, among others.
Nguyen Van Can, director general of Vietnam Customs.
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Can added an unnamed corporation, located in southern province of Ba Ria – Vung Tau, had imported 1.8 million tons of semi-aluminum products and aluminum bars for later export to the US and other countries, aiming to profit from unfair trade gains from preferential treatments.
Currently, Vietnamese aluminum exported to the US is subject to 15% import tariff, while similar Chinese products are applicable to a tax rate of up to 374%, Can said.
Such huge difference in import tariff has led to a growing number of enterprises in Ba Ria – Vung Tau importing foreign aluminum worth billions of US dollars, Can continued.
Can also revealed the GDVC is working with the US customs to verify the case, as US agents from the Department of Homeland Security have arrived in Hanoi to cooperate in the investigation.
Can stressed in case of companies importing aluminum bars or semi-aluminum products, then melt and form into different aluminum products, they are still not qualified for Vietnamese origin.
According to Can, the authority is stepping up efforts to prevent Vietnam from becoming a transshipment hub for foreign products.
Recently, Vietnam’s customs authorities have intervened in a number of cases of importing foreign products forging Vietnamese origin.
Can informed 10 containers of bicycles are being stopped at Binh Duong Custom Department. Preliminary results showed 100% of these products are imported from abroad, but later would be assembled in Vietnam for export.
Additionally, Hai Phong Custom Department also held containers of equipment and parts imported from abroad and subject to assembling in Vietnam to become made-in-Vietnam.
Similar cases involving clothes, footwear, phone accessories originated from China but labeled as Vietnamese goods for domestic use are being found in ports in Hai Phong, Ho Chi Minh City, Binh Duong, Dong Nai, among others.
