Chinese corporations are using fake “Made in Vietnam” tags on products to avoid US tariffs.
The Vietnamese government said they found their tags on dozens of Chines products in an attempt to sidestep the tariffs in the US-China trade war.
Vietnam will impose higher penalties on Chinese goods transferred to the country and illegally relabeled as made-in-Vietnam for export to the U.S. to dodge tariff hikes https://t.co/0e5OQk7Qw1
— Bloomberg (@business) June 10, 2019
Bloomberg reported:
Vietnam said on Sunday that it found dozens of fake product-origin certificates and illegal transfers by companies trying to sidestep U.S. tariffs on everything from agriculture to textiles and steel. It was one of the first times an Asian government has publicly alleged such misbehavior since trade tensions between the world’s two biggest economies escalated this year.
The statement from Vietnam, which pledged to increase penalties on trade-related fraud, adds to concerns that some Chinese exporters are illegally rerouting orders after Trump imposed tariffs on $250 billion of Chinese goods and threatened to target an additional $300 billion.
https://twitter.com/nationalpost/status/1138473964135731201
The Observer has more.
On Sunday, the government of Vietnam said it had identified dozens of fake “Made in Vietnam” certificates on everything from agriculture to textiles and steel produced by Chinese companies trying to circumvent U.S. tariffs.
Vietnam also alleged that some Chinese exporters had been illegally re-routing orders to Vietnam since the Trump administration hiked tariffs on $250 billion of Chinese goods from 10 percent to 25 percent last month. The government cited an example of U.S. customs officials uncovering Chinese plywood being shipped to America through a Vietnamese company.
Many businesses are already shifting their facilities to Vietnam in order to avoid the tariffs.
