Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib issued three ministerial decisions imposing temporary safeguard tariffs on certain steel products, effective from September 14^th. 

These decisions include imposing temporary protective duties for 200 days on a number of steel imports, including hot-rolled coils, cold-rolled coils, galvanized and colored steel, and billet products.

El-Khatib emphasized that these measures align with the state's commitment to protecting local industry and promoting fair competition in the domestic market, given that the steel industry is a cornerstone of several vital production sectors.

He elaborated that the investigations were initiated in response to requests submitted by local manufacturers affected by harmful international trade practices.

As per the mechanisms stipulated in international law and national legislation, the original period for completing the investigation is 12 months.

However, imposing temporary duties for 200 days practically requires the completion of investigation procedures within this period, with all concerned parties given a full opportunity to present their views before final decisions are issued.

The minister highlighted that this step also came in response to the rapid developments in global markets, which are witnessing large production surpluses. This has prompted many member states of the World Trade Organization (WTO) to impose similar measures to protect their domestic industries.

Additionally, he stated that this move aims to prevent the influx of imports that threatens the competitiveness of local industries and provide them with the temporary protection necessary to enhance their ability to expand, produce, and export.

The imposed tariffs will be applied as follows:

Hot-rolled coils: 13.6% of the cost, insurance, and freight (CIF) value, with a minimum of 3,673 EGP per ton.

Cold-rolled coils: 11.11% of the CIF value, with a minimum of 4,152 EGP per ton.

Galvanized sheets: 12.16% of the CIF value, with a minimum of 4,812 EGP per ton.

Colored sheets: 4.94% of the CIF value, with a minimum of 2,584 EGP per ton.

Billets (semi-finished iron or steel products): 16.2% of the CIF value, with a minimum of 4,613 EGP per ton.

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