Itac mulling extension of safeguard measures on coated steel fasteners – consultancy
Recent notices published by the International Trade Administration Commission of South Africa (Itac) highlight important developments affecting South Africa’s steel and manufacturing industries, consultancy XA Global Trade Advisors highlights.
Two separate safeguard-related investigations have been initiated, aimed at addressing the impact of increased imports on local producers.
Itac has initiated an investigation into the possible extension of safeguard measures on imports of threaded fasteners of iron or steel, including bolt ends, screw studs, screw studding and other hexagon nuts (excluding stainless steel fasteners and those identifiable for aircraft use).
The application was submitted by the South African Fasteners Manufacturers’ Association on behalf of the South Africa Customs Union industry.
Evidence submitted indicates that, although the industry has undertaken adjustment efforts under existing safeguard protection, the expiry of the measure may result in renewed injury through declining production, sales and market share, the consultancy avers.
“Safeguard duties are, by their nature, meant to be temporary, so extending them is unusual. The moment we retain the duties for more than three years South Africa owes our affected trading partners compensation for breaching our World Trade Organisation commitments.
“This usually takes the form of opening other product markets into South Africa for those partners to an equivalent value. If we refuse to do this, those partners can retaliate and impose duties on South African exports to an equivalent value,” the consultancy explains.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
Occupational health services, mobile clinics, wellness campaigns, aviation.
VISIT SHOWROOM
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
