TRADE POLICIES
US dumping inquiry troubles SA steel body
Seifsa says the US investigation is a ‘tit-for-tat’ retaliation against South Africa’s protectionist moves
The Steel and Engineering Industries Federation of Southern Africa (Seifsa) says US department of commerce claims that South African steel producers are dumping steel wire rod in the US only highlights SA’s inward-looking trade policies. It says the investigation by the US is "tit-for-tat" retaliation against the country’s steel industry for requesting the imposition of import tariffs and safeguard duties on cheap international steel imports. Dumping is when a foreign company sells an imported product at less than fair value. "This is of grave concern to Seifsa, given the strategic importance of the local steel industry," Ade says. South African steel producer Scaw Metals has dismissed an "affirmative preliminary determination" by the US department of commerce that it is involved in dumping carbon and alloy steel wire rod in the US, along with firms from Italy, South Korea, Spain, Turkey, Ukraine and the UK. The department is scheduled to announce its final antidumping determination...
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