TARIFFS ON STEEL CAUSED AN UNFAVORABLE EFFECT ON SOUTH AFRICA STEEL SECTOR

The 25% tariff imposed on imports of steel and 10% on imports of aluminum put by the U.S. President Donald Trump’s management has caused an unfavorable effect on the South African steel sector, stated by Trade and Industry Minister Rob Davies. He further told about his departments’ industrial policy action plan that they already have some continuing and unsettled crisis globally and the move taken by Trump’s administration might have a back on its own steel tariffs. Country’s industrial policy action plan emanates day before they tables department’s budget in Parliament. The duties on imports of aluminum and steel imported came into effect in mid-March causing unpropitious effect on steel sector of South Africa.

• [Editor:janita]