9/6/2016 2:15:00 PM
HEADLINES
South African Fastener Manufacturers Seek Tariffs
The South African Fasteners Manufacturers Association (Safma) will ask the International Trade Administration Commission (Itac) of South Africa to apply maximum tariffs on imported fasteners, such as set screws, nuts and bolts, chairman Rob Pietersma stated.
IOL.co reports that Itac is reviewing the duty structures of various downstream steel products, including fasteners, in the period between June 2015 and May 2016. The value of imported fasteners in that period was R2.5bn (US$186.8 million), according to IOL.co.
“Itac terminated anti-dumping duties on bolts and nuts imported from the People’s Republic of China, with effect from August 5,” writes Siseko Njobeni of IOL.co. “This followed Safma’s decision not to supply information that would have enabled the commission to review the anti-dumping duties.”
Safma represents major producers of screws, nuts and bolts in the Southern African Customs Union (Sacu) and constitutes 80% of the Sacu production volume, according to IOL.co.
Pietersma said exemptions made current duties ineffective.
So instead of applying for the extension of the antidumping duties for another five years, the association is requesting a maximum 30% tariffs for set screws, nuts and bolts.
South Africa first imposed the AD duties on imported Chinese products in 1999. Those duties were reimposed in 2004 and 2010.
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