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Trump Trade War - Having adverse effect in SA steel sector


EWN Co ZA reported that trade and Industry minister Rob Davies said that steel tariffs put in place by US President Donald Trump's administration are having an adverse effect on the South African steel sector. Mr Davies made the remarks during a briefing on his department's industrial policy action plan.

He said that “We have an ongoing and still unresolved global crisis and I think this is also behind some of the latest moves by the Trump administration on its own steel tariffs.”

Monday's briefing on the country's industrial policy comes just a day before he tables his department's budget in Parliament.

The duties came into effect in mid-March and include a 10% tariff on the imports of aluminium and a 25% tariff on imports of steel into the US.

Source : EWN Co ZA