A significant development is underway regarding the provisional safeguard duty on hot-rolled steel products. South Africa has notified the World Trade Organization (WTO) of its intention to impose a 9% duty, effective from tomorrow, June 28, 2024.
Key Details:
Notification to WTO: June 25, 2024
Effective Date: June 28, 2024
Duty Rate: 9% ad valorem safeguard duty
Gazette Notice: Expected later today
Exemptions: Developing countries will be exempt from this duty, as listed in the WTO notice.
Duration: The provisional safeguard measure will last up to 200 days.
In February of this year, the South African Iron & Steel Institute (SAISI), on behalf of ArcelorMittal South Africa Limited (AMSA), applied for a safeguard on hot-rolled steel. For more background on this case, visit our previous blog post: Initiation of Safeguard Measure Against Increased Imports of Certain Flat-Rolled Products of Iron, Non-Alloy Steel, or Other Alloy Steel at https://www.xagta.com/initiation-of-safeguard-measure-against-the-increased-imports-of-certain-flat-rolled-products-of-iron-non-alloy-steel-or-other-alloy-steel/.
Stay tuned for the Gazette notice for full implementation details or contact info@xagta.com for more.