SA's International Trade Commission proposes implementation of sweeping tariffs on imported steel products, following industry review

The International Trade Commission of South Africa (Itac) is proposing the implementation of sweeping tariffs on imported steel products. Earlier this year, Itac announced the largest tariff review in its 22-year history in response to threats by ArcelorMittal South Africa (Amsa) to close down its steel mills in Newcastle and Vereeniging, due to a flood of cheap imports from Asia. Steel products will see increases up to their World Trade Organisation (WTO) bound rates, of between 10% and 30%, according to a preliminary notice published last week by the International Trade Administration Commission (Itac). Sakina Kamwendo spoke to XA Global Trade Advisors MD, Donald MacKay