According to Hoa Sen Group, on June 3, 2025, the US adjusted the import tax on steel and aluminum from the current 25% to 50% based on Section 232 of the US Trade Expansion Act of 1962.
Regarding the impact of the new tax policy, Hoa Sen Group affirmed that this measure will not affect their business operations in the coming time.
Hoa Sen Group currently owns over 400 stores, including 120 Hoa Sen Home supermarkets, and 8 warehouses nationwide.
The reason for this lies in the anti-dumping and countervailing duty investigations initiated by the US Department of Commerce in September 2024 on galvanized, cold-rolled, and color-coated steel products exported from Vietnam.
Affected by the investigation and cautious customer sentiment, Hoa Sen Group’s exports of coated steel to the US market have been temporarily halted since September 2024.
Despite the interruption in exports to the US since September 2024, the positive business results in the first eight months of the 2024-2025 fiscal year demonstrate Hoa Sen Group’s superior ability to adapt to market fluctuations, and US tariff policies have not impacted the Group’s business operations.
Cumulative business results for the first eight months of the 2024-2025 fiscal year of Hoa Sen Group
Specifically, the cumulative business results for the first eight months of the 2024-2025 fiscal year show that Hoa Sen Group’s after-tax profit reached VND 567 billion, compared to the high-case profit plan for the full fiscal year (profit of VND 500 billion), surpassing the plan by 13%.
In the remaining months, Hoa Sen Group will continue to strive to complete the production and revenue plans and further improve after-tax profit results to bring the best benefits to shareholders.
“HSG: Unscathed by US Tax Policies, 8-month PAT reaches VND 567 billion for FY 2024-2025”
On June 3, 2025, the United States adjusted its import tariffs on steel and aluminum, raising them from the current 25% to 50% under Section 232 of the Trade Expansion Act of 1962. Regarding the impact of this new tax policy, Hoa Sen Group asserts that this measure will not affect their business operations in the upcoming period.
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8 Fiscal Quarters of Profit: HSG’s Impressive Performance with After-Tax Profits of VND 567 Billion
On June 3, 2025, the United States adjusted its import tariffs on steel and aluminum, increasing the current rate from 25% to 50% under Section 232 of the Trade Expansion Act of 1962.
Title: US Hikes Import Tariffs: How Will Hoa Sen Group be Affected by the 50% Steel and Aluminum Levy?
The Hoa Sen Group asserts that the recent announcement of increased import tariffs by the US, from 25% to 50%, will have no impact on their business operations.
“HSG: On Track for Success with Impressive Post-Tax Profit of VND 460 Billion in 7 Months of FY 2024-2025”
On April 2, 2025, the United States announced retaliatory tariffs on nations worldwide, including Vietnam. This move by the US had a profound impact on global stock markets, including Vietnam’s.
