The International Trade Administration Commission (ITAC) has released its essential facts letter in the ongoing safeguard investigation into the increased imports of hot-rolled steel products on 15 October 2024. This follows the preliminary determination published in Government Gazette on July 5, 2024.
The investigation, initiated on February 23, 2024, aims to assess the impact of rising hot-rolled steel imports on the Southern African Customs Union (SACU) industry. ITAC’s Preliminary Report (Report No. 730) detailed the basis for its findings, noting that unforeseen developments and obligations under GATT 1994 have contributed to the alleged surge in imports, allegedly causing serious injury to the local industry.
Proposed safeguard measures
As part of its final determination process, ITAC is considering recommending the following safeguard measures to the Minister of Trade, Industry, and Competition:
- Year 1: 13% safeguard duty
- Year 2: 11% safeguard duty
- Year 3: 9% safeguard duty
ITAC has yet to make a final determination, as it will still review submissions on the essential facts letter from all interested parties. Stakeholders have 7 days from the release of the essential facts letters to provide comments before ITAC makes its final recommendation.
Stay tuned for further updates as the final determination approaches, which will shape the future of hot-rolled steel in South Africa.