Displaying items by tag: Ministry of Finance
China fights back in trade war with US
14 May 2019China/US: The Chinese Ministry of Finance has increased tariffs on selected US goods, including cement, to 25% with effect from 1 June 2019. It said it took the action in response to escalating US tariffs in May 2019. The new Chinese tariffs range from 10% to 25% and include clinker, white cement, other Portland cements, other hydraulic cement, refractory cement, additives for cement, plaster and concrete, limestone, quicklime, slaked lime, gypsum, refractory products and cement packaging machinery.
Vietnamese official links low export price to quality
21 November 2018Vietnam: Associate Professor Dinh Trong Thinh, of the Academy of Finance – part of the Ministry of Finance, has conceded that exported cement from the country has a low price due to the poorer quality of some of its product. In an interview with the ministry’s press service, Vietnam Economic News, he said that some smaller and medium-sized cement producers use old technology such as shaft kilns, according to Việt Nam News newspaper. He added that local producers were forced to export cement at lower prices than it is sold domestically to reduce inventory. He noted that this was not sustainable in the long run due to production costs and overseas competition.