Trump signed proclamation authorizing 25 percent duty on imported steel
President Donald Trump signed a proclamation authorizing the tariffs on imported steel and aluminum, while excluding Canada and Mexico and leaving the door open to sparing other countries on the basis of national security. Accordingly the U.S. will levy a 25 percent duty on steel and 10 percent on aluminum, and the tariffs will take effect in 15 days. Trump’s authority to establish the tariffs stems from a Commerce Department investigation that... Read More
IREPAS statement on US DOC’s Section 232 recommendations
IREPAS is convinced that, if the United States imposes the import remedy options which have been recommended by the US Department of Commerce Secretary Wilbur Ross following the conclusion of the Section 232 investigation into steel imports, American steel users will have to face much higher steel prices compared to the other parts of the world, which will certainly devastate many steel-using industries in the US. IREPAS affirms its belief that free... Read More
US DOC releases recommendations for steel tariffs or quotas under Section 232
US Department of Commerce Secretary Wilbur Ross publicly released his recommendations to the president following the conclusion of the Section 232 investigation into steel imports, with three import remedy options: A global 24 percent tariff on all steel imports from all countries. A tariff of at least 53 percent on steel imports from Brazil, China, Costa Rica, Egypt, India, Malaysia, Korea, Russia, South Africa, Thailand, Turkey and Vietnam. A quota... Read More
China to cut export tax on steel billets
China will cut export tariffs on high-purity pig iron to 10 percent and some steel billets to 20 percent on Jan. 1 , down from a temporary rate of 25 percent this year, the Ministry of Finance said in a statement on its website. Read More
Temporary tariffs imposed in Egypt
Egyptian Ministry of Industry and Foreign Trade announced that; temporary tariffs have been imposed to protect domestic reinforcing steel bar manufacturers. The 7.3 percent tariffs will last for a maximum of 200 days, but could eventually be made permament, the ministry said. Egyptian steelmakers have expressed concern about imports from Turkey, the world’s leading steel reinforcing bar exporter. Read More