Vietnam’s shoe industry is getting worse

According to Vietnam’s “Economic Times” report, the European Union decided on October 2 to conduct an anti-dumping investigation into Vietnamese leather shoes. The usual investigation time limit is 12-15 months. During this period, Vietnamese leather shoes will be levied a 10% anti-dumping duty until the final conclusion of the investigation is reached. In addition, the EU has removed Vietnamese footwear products from the Generalized System of Preferences (GSP) tariff list, which means that Vietnamese footwear products exported to the EU from 2009 to 2011 will be subject to an additional 5% tax. It is generally believed that Vietnam’s shoe industry is in a situation that is getting worse.