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Warning: A New Rule For Exported Goods In Vietnam

Aug 08, 2019

Recently, in order to avoid some enterprises' exports to America which go via Vietnam, the Trade and Industry Department of Vietnam issued a new standard  "Made in Vietnam".

It means that: according to the international standard of HS code, the agricultural products and other resources which are native to Vietnam and the products which are made finally in Vietnam have to contain at least 30% Vietnam local additional value. In other words, the 100% exported raw material from foreign countries has to increase 30% additional value in Vietnam, then this product can export with the label of "Made in Vietnam".

Made in Vietnam

Foreign media said Vietnam's exports to the US have surged a terrifying 25.4% from January to July, because since the trade war betwen U.S. and China starts, some sellers and freight forwarder tries to export goods to America from Vietnam in order to avoid the 25% additional tariffs on Chinese products. However, from now, if the sellers and freight forwarder still want to do this with the aim of tax avoidance, they will be fined or even have criminal liability.

At present, America is stepping up its scrutiny of Vietnam. In the last month, Vietnam came to American observation listings of the exchange-rate manipulation. At the same time, Vietnam also worried that if they allow the chinese exports with the wrong label go via Vietnam to America, they will face penalty from America.