Egypt Renews Import Duties on Steel Rebar, Iron BilletsSource: www.export-egypt.com 10/11/2019, Location: Africa |
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Egypt has re-imposed customs tariffs of 25 percent on steel rebar and 16 percent on iron billets for three years, the trade and industry ministry said .
The tariffs will take effect on Saturday and will gradually decrease over a three-year period. The ministry first imposed the import fees on steel rebar and iron billets on 15 April for a period of six months, with the option to extend them if necessary. Iron billets were subject to a 15 percent tariff in the April decision. The ministry said the introduction of tariffs was in response to a rise in imports that had hurt the local industry. The iron billet tariffs have been subject to legal challenge from steel re-rolling companies that depend on imported billets, and an administrative court ruled in July they should be suspended. The ministry appealed the decision and a higher court has yet to rule. |
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