News

Strengthening the inspection of granting C/O for “billion-dollar” commodities exported to the United States

Summary

The Ministry of Industry and Trade has requested the Vietnam Chamber of Commerce and Industry (VCCI) to closely examine C/O applications for key commodities exported to the United States

Updated on : 05-06-2019

According to the document the Ministry of Industry and Trade has sent to VCCI to strengthen the inspection of C/O applications for commodities exported to the United States, the United States has raised import duty from 10% to 25% on US$200 billion of goods imported from China and projected to impose additional import duty on about US$300 billion of goods imported from China.

In response to this development, the Ministry of Industry and Trade requested VCCI to strictly examine C/O applications for commodities exported to the United States, especially wood and wood products; textiles; leather and footwear, handbags; computers, electronics and components; household electricity and components; phones and parts thereof; aluminium and aluminium products; iron and steel and iron and steel products; bicycles and bicycle parts; plastic and plastic products.

VCCI gave notice to enterprises which show a sudden increase in exports to the United States, especially enterprises that have not (or rarely) applied for C/O for goods exported to the United States.

In addition to carefully checking documents and declarations of traders, the Ministry of Industry and Trade also suggested VCCI to further verify actual production capacity of traders and goods origin in accordance with the provisions of Government Decree 31/2018/ND-CP dated March 8, 2018 detailing the Law on Foreign Trade Management on goods origin.

VCCI quickly connected its C/O software with the Ministry of Industry and Trade to exchange information and monitor the issuance of C/O in some markets.

Source: Customs News