South Africa's Steel Sector Protection: Tariff Proposal

South Africa's International Trade Administration Commission suggested new import duties on various steel products to shield the domestic industry from an influx of imports, particularly from China. This proposal, aimed at combating the country's steel crisis, will be finalized after public feedback. Duties may increase by up to 15%.

In a move to counter the growing steel crisis, South Africa's International Trade Administration Commission proposed new import duties of up to 15% on steel products. The initiative seeks to protect local industry from rising imports, notably from China, and prevent potential collapse.

The commission, responsible for tariff investigations and trade controls, released these preliminary findings and will await public feedback over the next two weeks. They have received over 150 submissions addressing duty increases, rebates, and import control specifics.

If approved, the new duties would apply to products like flat-rolled steel and nails, with some receiving a 10% hike. Rebates will be available for steel products not manufactured within the Southern Africa Customs Union.

(With inputs from agencies.)