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Kuwait is following the example of America and imposing protectionist tariffs on steel

Steel News

Related sources for Al-Qabas revealed a decision by the Ministry of Finance to increase tariffs on reinforcing steel  and wire roll  from 5% to 10% starting from this month until the end of the end of February 2019, with the possibility of extending the decision in implementation of the recommendation of the General Secretariat of the GCC.

The sources pointed out that the decision had been approved by the committees of trade, industrial and financial cooperation, which unanimously agreed to increase tariffs on iron in the framework of anti-dumping of the industry,

Noting that “Finance” and after the approval of the Ministry of Commerce and Industry will increase the fees starting this month and retroactively on all imports of reinforcing steel.

The sources said that the decision to increase the fees came with the stability of prices in the domestic market after months of speculation to settle prices between 220 and 230 dinars per ton.

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