Trump tariff decision on SA steel imports expected | Fin24
 
  • Another VAT hike?

    Absa warns that govt may again announce an increase in value added tax in next month's Budget.

  • SA Revenue Service

    The tax agency says a unit that tackles illicit financial flows has recovered R2.6bn since April 2019.

  • State Capture Inquiry

    Former Eskom chairperson Zola Tsotsi says Tony Gupta threatened to have him removed.

Loading...

Trump tariff decision on SA steel imports expected

Apr 30 2018 12:06
Lameez Omarjee

South Africa will soon know whether it will be exempt from US President Donald Trump’s steel and aluminium tariffs, which the Department of Trade and Industry has suggested would lead to local job losses. 

The duties, which came into effect in mid-March, include a 10% tariff on the imports of aluminium, and a 25% tariff on imports of steel into the US.

Minister of Trade and Industry Rob Davies has asked US trade representatives that SA be exempt from the tariffs, arguing that SA makes up only a small part of the US steel and aluminium imports.  

Speaking at a business summit in Sandton on Monday, Davies said: “Later [Monday] afternoon I will have to leave this event and engage in a teleconference to discover if SA will be subject to punitive tariffs to steel and aluminium products to the biggest economy of the world.”

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...