Xinhua, Johannesburg :
South Africa’s Minister of Trade and Industry Rob Davies Friday approved recommendations to impose a 10-percent import tariff on some Chinese steel imports.
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, the Department Trade and Industry (DTI) said.
The investigation was initiated after an application from the South African Coil Coaters Association on behalf of Arcelor Mittal South Africa Limited (AMSA) and Safal Steel (Pty) Ltd (SAFAL).
The DTI said the ITAC recommendations approved by the minister are subject to the following conditions:
There will be no price increases for the steel products in question as a result of this tariff adjustment and that pre-existing commitments to reduce prices on some products are honoured; The ITAC will conduct a review of the duty structure to determine its impact on the industry value chain, three years from the date of implementation;
The AMSA will invest an additional 250 million rand (about 19 million U.S. dollars) in its colour line and SAFAL will investment an additional 300 million rand (about 23 million dollars) in its metal coating line in 2017.
South Africa’s Minister of Trade and Industry Rob Davies Friday approved recommendations to impose a 10-percent import tariff on some Chinese steel imports.
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, the Department Trade and Industry (DTI) said.
The investigation was initiated after an application from the South African Coil Coaters Association on behalf of Arcelor Mittal South Africa Limited (AMSA) and Safal Steel (Pty) Ltd (SAFAL).
The DTI said the ITAC recommendations approved by the minister are subject to the following conditions:
There will be no price increases for the steel products in question as a result of this tariff adjustment and that pre-existing commitments to reduce prices on some products are honoured; The ITAC will conduct a review of the duty structure to determine its impact on the industry value chain, three years from the date of implementation;
The AMSA will invest an additional 250 million rand (about 19 million U.S. dollars) in its colour line and SAFAL will investment an additional 300 million rand (about 23 million dollars) in its metal coating line in 2017.
