The Steel That China Lost to Vietnam

In 2025, Vietnam overtook China as the number one exporter of steel to the United States for the first time in modern history. This episode of Global Trade with Fexingo explains how that happened—not through a trade war escalation, but through a quiet realignment of global supply chains. Lucas and Luna trace the journey of a single steel coil from a blast furnace in Hebei Province to a port in Da Nang, where it gets rerolled, stamped 'Made in Vietnam,' and shipped to Houston. Along the way, they unpack the mechanics of tariff circumvention, the role of the WTO's anti-circumvention rules, and why the U.S. Department of Commerce is now investigating Vietnamese steel mills. They also look at the broader picture: this isn't just about steel. It's a case study in how trade policy can create unintended winners and losers. By the end, you'll understand why Vietnam's steel exports to the U.S. jumped 32 percent year-over-year in the first quarter of 2026—and why American steelworkers aren't celebrating. #SteelTrade #VietnamExports #ChinaTariffs #WTO #AntiCircumvention #Section232 #TradePolicy #GlobalSupplyChains #USCommerceDepartment #SteelDumping #TradeWar #TariffCircumvention #HebeiSteel #DaNang #HoustonPort #Economics #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo