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South Africa may impose emergency tariffs on steel imports

Add Time:2016-04-07 21:22:00 Clicks:
Reuters reported that South Africa in a filing to the World Trade Organisation published on Monday.said that it is considering imposing emergency tariffs on some iron and steel imports. 

The filing said “SA’s steel industry body requested the temporary trade barrier because a surge in import volumes had caused the industry serious injury in the form of lower sales, output, market share and capacity utilization. It blamed a global steel glut and measures by other countries to protect their steel makers, as well as new investments by current steel importers, which meant SA could expect further increases of imports.”

The analysis was based on data from ArcelorMittal SA, which accounts for 70% of local production of the affected goods.

Labour union Solidarity said that South Africa’s steel sector is facing catastrophe and ArcelorMittal may have to close down if the government does not act soon. Solidarity’s steel spokesman Mr Marius Croucamp said”If there are no concrete plans on the table to assist the struggling steel industry by the end of April, the primary steel industry in South Africa will perish.”

SA trade authorities indicated earlier that they would decide in June whether to aggressively protect steel manufacturers, Solidarity said, but this would be much too late according to the union.
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