Vietnam, in a race to head off possible new US tariffs, announced it slashed import levies on a range of products, including liquefied natural gas and automobiles, according to a statement on the government’s website.
Tariffs on some types of cars are cut to 32% from as high as 64%, while the tax on LNG is reduced to 2% from 5%, according to the statement. The tax on ethanol was reduced to 5% from 10%. Agricultural imports, including fresh apples, frozen chicken, almonds and cherries, also experienced tariff reductions, the statement said. The cuts went into effect Monday.
The cuts ...