TRADE RESTRICTIONS
US tariffs on steel and aluminium will hit jobs in SA, says Solidarity
Trade union Solidarity says that the 25% import tariff on steel and 10% tariff on aluminium proclaimed by US President Donald Trump, which came into effect on March 23 2018, will negatively affect jobs in SA soon. SA exports about 330,000 tonnes — or 5% of annual steel production — to the US. In real terms the lag in data will take some time to be felt across the bottom line. But counting the cost in jobs in time will perhaps be the most empirical of indications of the US trade actions. The South African steel and aluminium industry has experienced severe contraction over the past few years and remains under huge pressure. "There is real concern among players that the tariffs imposed by the US on steel and aluminium products will hurt our local industry, resulting in possible job losses," Solidarity deputy general secretary for the metal and engineering industry, Marius Croucamp, says. However, 2017 was a much better year for SA’s metals and engineering sector, according to the Stee...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.