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Tuesday, 17 September 2019

Egypt’s Trade Ministry looks at new, lower three-year duties on steel billet imports

A Trade Ministry committee has recommended imposing anti-dumping duties on imported steel billets for three years starting mid-October, following the end of the temporary 15-25% duties on steel raw materials imposed by the ministry in mid-April, according to a statement (pdf). The ministry continued to charge manufacturers throughout the six-month period despite an administrative court ruling to suspend the temporary duties, notes the statement. The new duties will start at 7%, and then gradually fall by 2% each year to reach 3% at the end of the three-year period. This lower percentage is based on a study by the committee, but it could perhaps be in response to the controversy spurred by the original decision.

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