Published Date: 14/02/2025
- On February 11, the U.S. government officially imposed a 25% tariff on all imported aluminum and steel products to protect domestic manufacturers.
- We forecast Vietnam would be slightly affected, as the U.S. is currently the third-largest export partner, with key products as Hot Dipped Galvanized (HDG), HRC, and CRC.
- We believe that companies with a high export proportion to the USA, such as GDA (16%), NKG (13%), and HSG (9%), may experience a slight decline in profit margins, while their volume is unlikely to be significantly affected. As for HPG, the company is expected to remain unaffected by the new tariff, as the current tax rate on exported construction steel and HRC is already above 33%.
