The Trade and Industry Ministry is considering raising tariffs on imports of steel and iron billets, an unnamed government official told Al Shorouk. Ministry officials will meet this week with representatives from integrated and rolling mill factories to discuss policies to protect domestic industry during the pandemic, according to the official.

Background: The ministry postponed in April cutting import tariffs imposed on steel rebar and iron billets for a six-month period. The ministry had imposed a 25% duty on steel rebar and a 16% duty on iron billets for three years, which were to be gradually reduced over three years, but the first round of the plan was called off earlier this month to keep larger factories afloat amid the pandemic. Small-scale rolling mills are still threatening to halt production, challenging protectionist duties in place on iron billets, a key input they import. The ministry also launched an investigation in April into potential dumping of imported aluminum products in the domestic market, after state-owned Egypt Aluminium began reported losses citing the practice.