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FINANCIAL NEWS
Egypt imposes additional tariffs on sugar, steel rebar import
08 Dec 2012
(MENAFN) Egypt has imposed additional tariffs on raw and white imports on sugar and steel rebar for 200 days from December 2, Reuters reported.
The decision was notified to the World Trade Organization (WTO), saying the measure was aimed at protecting domestic producers from a surge in imports.
The government said that it has imposed “provisional safeguard measure” of 17 percent of the CIF value of raw sugar imports, or a minimum of USD96.60 per tonne, and 20 percent on white sugar, or a minimum of USD115.9 per tonne.
It also said that it has imposed a 6.8 percent increase tariff on steel rebar import, or a minimum of USD48.6 per tonne.
Developing countries are exempt from the additional tariffs as long as their imports do not exceed three percent of Egypt’s total imports each or nine percent collectively.
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