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South Africa Introduces Tariff on Imported Steel, But With Conditions
08/28/2015 - South Africa's trade and industry minister has approved a 10-percent protective tariff on certain steel products, looking to shield domestic steelmakers from Chinese imports.
In an announcement, the country's trade and industry department said the tariff applies to galvanized steel, aluminum-zinc-coated steel and color-coated steel. Other tariff and anti-dumpling applications are pending.
The tariff comes with certain conditions, however.
One is that steelmakers agree to forgo price hikes. Another is that steelmakers honor commitments to reduce prices on certain products. And third, the companies that had lodged trade complaints, ArcelorMittal and Safal Steel Ltd., must invest nearly US$42 million in their color- and metal-coating lines and forgo any retrenchments in those lines over the next three years.
The tariff comes with certain conditions, however.
One is that steelmakers agree to forgo price hikes. Another is that steelmakers honor commitments to reduce prices on certain products. And third, the companies that had lodged trade complaints, ArcelorMittal and Safal Steel Ltd., must invest nearly US$42 million in their color- and metal-coating lines and forgo any retrenchments in those lines over the next three years.
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