[Vnbiz] raising import taxes correlated with USD strength?

[Charles Vo]

Considering imports are all paid with dollars, the raising of import taxes (cars, cosmetics, electronics, gold) by the government has been a strong reason for dollar demand rising to a furious level especially in HCM city where I read the dollar supply is really, really low now.  Ships filled with imported goods have been blocked up the ports of Vietnam.

http://vietnamnews.vnagency.com.vn/showarticle.php?num=04ECO070608

I surmise the short-term dollar demand will decrease as soon as the importers have bought the huge sum of dollars needed to pay for all these imports.

Did the government have an idea that this kind of abhorrent hoarding of imports would happen with the import taxes rising?

In my view, many importers will not be able to sell these imported goods at the inflated dollar prices they were forced to use to buy these goods.  Many will go out of business.