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GCC considering imposing protective tariffs on imported steel

8 Jul 2020 15:23 reported by Markus Chen

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The Gulf Cooperation Council (GCC) will hold a public hearing on July 21 to explain the imposition of protective tariffs on certain types of steel products.

GCC had launched an investigation of imported flat and long products in October 2019 due to the sharp increase in mentioned products imported to the region from 2014 to 2018 and had begun to deal with this import safeguard more actively with the soft demand of global steel.

However, there was a low possibility of GCC to impose a safeguard tariff on HRC since the production capacity in the area was insufficient to meet such demand, according to industry sources.

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