Egypt’s state commission on Saturday backed a government decision to impose tariffs on steel billet and rebar imports.
The commission stated before the Egyptian Administrative Judicial Court that the steps taken to impose the tariffs were “sound,” and that a significant increase in imports was already causing serious harm to the country’s economy. Rolling mills had appealed the Ministry for Trade and Industry’s decision to impose tariffs. The judicial court postponed the case until Feb. 22, 2020 to review the commission’s findings before a final ruling can be issued.
The trade and industry ministry in October last year announced three-year safeguard measures for iron and steel billets. It imposed a 25% duty on rebar with a minimum import value of $125/mt CIF and 16% on billets worth a minimum of $74/mt CIF, until April 11, 2020. The duties will be reduced to 21% on rebar worth a minimum of $105/mt CIF and 13% for billets on a minimum value of $60/mt CIF from April 12, 2020 to April 11, 2021.
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