South Africa has increased import tariffs on several steel products to protect its local steel industry from growing competition and weak market demand.
The new tariffs now range from 10% to 30%, compared to the earlier rates of 0% to 15%. The affected products include flat steel, non-alloy steel, bars, wire rods, pipes, and tubes.
The country’s trade authority, the International Trade Administration Commission (ITAC), said the decision was taken due to increasing pressure on domestic steel manufacturers, including plant closures by ArcelorMittal South Africa.
According to officials, the higher tariffs are meant to give local steel companies more time to recover, restructure operations, and invest in improving their competitiveness.
South Africa has also updated some duty rebate policies for steel processing industries, while continuing special trade benefits for selected countries and regions.