Africa-Press – South-Africa. South Africa has raised tariffs on several imported steel products to between 10% and 30%, in a move aimed at protecting the struggling local industry against rising imports and weak domestic demand.
According to a government notice issued on May 15, the new tariffs apply to products such as rolled iron and steel, bars, and pipes, whereas previous tariffs ranged from zero to 15%.
The decision was based on recommendations from the International Trade Administration Commission, which called for urgent measures to protect the local steel sector from the influx of imports that account for about 73% of the country’s steel imports.
The head of the commission stated that the new tariffs will provide local companies with the “necessary space to adapt and invest in their production capacities.” This decision comes amid a worsening crisis faced by the steel sector in South Africa, with some factories struggling due to intense competition and declining demand.
In March, Pretoria imposed high anti-dumping duties on structural steel imports from China and Thailand as part of a series of measures to protect the national industry.
The steel sector is viewed as a vital part of the South African economy, given its links to construction, transport, energy, and infrastructure industries, amid concerns about the impact of foreign competition and rising production costs on the sector’s future.
