Egypt to Retain Tariffs on Steel Rebar from China, Turkey, Ukraine for 5 Years

Egypt to Retain Tariffs on Steel Rebar from China, Turkey, Ukraine for 5 Years

Thursday, 7 December, 2017 - 12:00
Workers check steel products at a factory in Dalian, Liaoning Province, China, March 30, 2016. REUTERS
Cairo - Asharq Al-Awsat
Egypt will maintain tariffs on steel rebar from China, Turkey, and Ukraine for a period of five years, the Ministry of Trade and Industry said in a statement on Wednesday, extending a temporary tariff imposed earlier this year.

The tariff was first implemented in June to protect local manufacturers and set at 17 percent for Chinese steel, 10-19 percent for Turkish steel, and 15-27 percent for Ukrainian steel.

The statement quoted Minister Tareq Qabil as saying that the decision was taken after a “careful examination ... and based on a complaint by the local industry.”

Steel rebar prices in Egypt have sharply risen since the tariff was implemented last June.

Egypt produces annually 6 to 7 million tons of steel rebar.

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