Error:

Javascript is disabled in this browser. This page requires Javascript. Modify your browser's settings to allow Javascript to execute. See your browser's documentation for specific instructions.

Economy

Actions

Economy

SA steel industry condemns US decision to hike import tax

Date: Feb 11, 2025

The South African (SA) local steel industry, Steel and Engineering Industries Federation (Seifsa) has condemned the United States’ (US) decision to hike import tax on all steel and aluminium entering that country.

Seifsa says this will hurt the steel and aluminium sector in South Africa.

This follows US President Donald Trump’s order to put a 25% import tax on all steel and aluminium entering the US in a major expansion of existing trade barriers.

Trump signed proclamations late on Monday. These measures will take effect on March 4.

The tariffs will apply to all steel and aluminium imports across the world, including South Africa.

Seifsa President Elias Mongalo says these tariffs will hurt both the US and South African market.

“Anyone who imports steel from South Africa, they are then up for paying. Over and above transport and others, they’re then paying the 25% and 10% respectively for aluminium products, which then means it then becomes more costly. But by doing that, it also then increases the inflation in the US market. So, these are some of the dynamics that were then faced with.”

--SABC--