Otmane El Rhazi : Price, jobs, investment conditions placed on beneficiaries of first round of steel duties

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.

The first applications for protection on several steel products were approved on Friday, with Trade and Industry Minister Dr Rob Davies confirming that duties across eight tariff subheadings would be increased to the World Trade Organisation (WTO) bound rate of 10%. However, government insisted that there could be no price increases for the steel products in question and placed conditions on job cuts and future investments at beneficiary companies.