It was reported that Egypt sent a notification to the World Trade Organization (WTO) citing that it will impose provisional safeguards duties against imports of steel products: 15% for semi-finished steel products and 25% for rebars.
The measure, which will last for 180 days, was designed to remedy the increase of imports of these products because Egyptian steelmakers' market share declined by 6% over the first half of 2018, compared to same period of 2017, and down by 10% over the second half of 2018, compared to first half of 2017.
The notification indicated that there was a risk that domestic producers might stop production unless a safeguard was implemented.
Source from Yieh Corp
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