Egypt's Ministry of Trade and Industry has revoked the 25% and 15% safeguard duties on imports of rebar and billet respectively effective November 15. The measure was imposed in April 2019 and had been due to lapse in April 2022. Egypt’s Trade & Industry Minister Ms Nevine Gamea announced the ministerial decree to suspend the measure, under resolution No 907 of 2019, effective following the date of its publication in the official Egyptian Gazette. Ms Gamea said "The decision aims to support the industrial sectors when there is a significant rise in energy prices, freight and raw materials, in addition to global-scale high inflation. These all negatively impact Egypt's production and export sectors, stressing the ministry's keenness to support all industrial sectors, especially since the industry sector represents a major locomotive for the national economy." The removal of safeguard duties is expected to lead to a recovery of import volumes of the products concerned, particularly billet. Local long steel producers had been voicing complaints about the shortage of the material in the country, On 31 March 2019, the Egyptian Minister of Trade & Industry initiated a safeguard investigation on imports of semi-finished products of iron or non-alloy steel and steel rebar. The products subject to investigation are classified under HS codes: 7207, 7213 and 7214. This follows the application lodged by the domestic industry. On 15 April 2019, the Egyptian authorities imposed a provisional safeguard duty on imports of the subject good. The rate of duty on imports of semi-finished products of iron or non-alloy steel (HS code 7207) was up to 15% of the CIF value. The rate of duty on imports of certain bars, coils and rods of iron or non-alloy steel (HS code 7213 and 7214) was 25% of the CIF value. The duty was in force for a period of 180 days. On 12 October 2019, the Egyptian authorities imposed a definitive safeguard duty.
Egypt's Ministry of Trade and Industry has revoked the 25% and 15% safeguard duties on imports of rebar and billet respectively effective November 15. The measure was imposed in April 2019 and had been due to lapse in April 2022. Egypt’s Trade & Industry Minister Ms Nevine Gamea announced the ministerial decree to suspend the measure, under resolution No 907 of 2019, effective following the date of its publication in the official Egyptian Gazette. Ms Gamea said "The decision aims to support the industrial sectors when there is a significant rise in energy prices, freight and raw materials, in addition to global-scale high inflation. These all negatively impact Egypt's production and export sectors, stressing the ministry's keenness to support all industrial sectors, especially since the industry sector represents a major locomotive for the national economy." The removal of safeguard duties is expected to lead to a recovery of import volumes of the products concerned, particularly billet. Local long steel producers had been voicing complaints about the shortage of the material in the country, On 31 March 2019, the Egyptian Minister of Trade & Industry initiated a safeguard investigation on imports of semi-finished products of iron or non-alloy steel and steel rebar. The products subject to investigation are classified under HS codes: 7207, 7213 and 7214. This follows the application lodged by the domestic industry. On 15 April 2019, the Egyptian authorities imposed a provisional safeguard duty on imports of the subject good. The rate of duty on imports of semi-finished products of iron or non-alloy steel (HS code 7207) was up to 15% of the CIF value. The rate of duty on imports of certain bars, coils and rods of iron or non-alloy steel (HS code 7213 and 7214) was 25% of the CIF value. The duty was in force for a period of 180 days. On 12 October 2019, the Egyptian authorities imposed a definitive safeguard duty.
