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Egypt to retain tariffs on steel rebar for 5 years

Steel News - Published on Thu, 07 Dec 2017

Image Source: egypttoday.com
Egypt will maintain tariffs on steel rebar from China, Turkey, and Ukraine for a period of five years. The tariff was first implemented in June to protect local manufacturers and set at 17 percent for Chinese steel, 10-19 percent for Turkish steel, and 15-27 percent for Ukrainian steel.

Tarek el-Geyoushi, member of the Metallurgical Industries Chamber (MIC) of the Federation of Egyptian Industries, said “The decision by Egypt’s Trade Ministry to maintain tariffs on steel rebar from China, Turkey, and Ukraine for a period of five years will not lead to an increase in steel prices in Egypt. Imposing tariffs aimed at supporting local industry and did not mean baring imports from all countries, saying that the decision was fair in light of dumping practices.”

Geyoushi said that the decision would not lead to price increases or decreases in the local market because prices in local factories are tied to production inputs.

Source :

Posted By : Nanda Koijam on Thu, 07 Dec 2017
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