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On May 19, the South African government announced an increase in import tariffs on certain steel products—ranging from 10% to 30%—to address the pressure placed on the domestic steel industry by weak demand and rising global steel imports.
The adjustments cover products such as flat-rolled iron and non-alloy steel, bars, wire rods, and steel pipes and tubes. HCT490X+ZF Hot dip Zinc-Iron alloy coating (ZF) steel , Previously, tariffs on these products ranged from 0% to 15%.
The International Trade Administration Commission of South Africa (ITAC) noted that steel companies, including ArcelorMittal South Africa, had already shut down some plants as operational pressures on the industry continued to mount. HCT490X+ZF Hot dip Zinc-Iron alloy coating (ZF) steel , Last year, ITAC recommended that the government implement emergency safeguard measures and proposed imposing import tariffs of at least 10% on steel products.
Ayabonga Cawe, Chief Commissioner of ITAC, stated that the tariff adjustments aim to provide local steel companies with the necessary space to restructure and invest in upgrades, thereby helping the industry regain its competitiveness.
At the same time, South Africa has adjusted certain tariff rebate policies affecting downstream processed products, HCT490X+ZF Hot dip Zinc-Iron alloy coating (ZF) steel , such as heavy structural steel and flat steel used in the electronics industry.
However, the South African government noted that the new tariff measures would not affect the preferential trade treatment enjoyed by certain countries and regions.
