Business
Minister approves steel import tariff recommendations─── 10:19 Sat, 29 Aug 2015
Johannesburg - South Africa’s Minister of Trade and Industry Rob Davies yesterday approved recommendations to impose a 10-percent import tariff on some Chinese steel imports.
According to the department the minister’s approval is based on the recommendation by the International Trade Administration Commission of South Africa (ITAC) for the tariff increases following its own extensive investigation.
Last week, the government reached an agreement with the steel industry and trade unions to protect South Africa from duty free or zero tariff Asian steel imports.
The steel industry and trade unions have pressed the government to impose tariffs on steel imports from China so as to lessen the effect of a surge in imports, which are being supplied at prices as much as 25 percent below local production costs.
ANA/Xinhau
