Steel — what has changed in two decades

While steel consumption has not declined the share of domestic consumption met by imports has grown and export markets narrowed

After months of consultation and engagement with the domestic steel sector, the International Trade Administration Commission (Itac) gave notice in the Government Gazette of March 19 of a review of the steel tariff structure and import licensing and surveillance mechanisms for the sector.

This arises from the risk of trade diversion from growing protectionism in importing markets and chronic structural overcapacity globally. Much of the reporting that followed the release of the notice requesting comment from interested parties, has focused on whether the process will meet the ambitious deadlines and whether it will slay some holy cows in the multilateral trading system. ..

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