How does 106% duties on Aluminum Foil from China Sound?
If SA is serious about protecting certain industries they may want to learn from the United States 106% duties on Chinese Aluminum Foil.
According to a U.S. industry group, the U.S. Commerce Department has imposed duties as high as 106% on aluminum foil from China after it concluded that the country’s producers are dumping their product in the U.S. and receiving unfair government subsidies.
The duties, which would take effect for five years, remain subject to a finding of injury to U.S. producers by the International Trade Commission, which is due to announce its decision by March 15; Pres. Trump then has until mid-April to make his decision on potential actions.
U.S. imports of aluminum foil from China totaled an estimated at $389M in 2016.
South African industries including aluminum, frozen chicken and textile among others have been lamenting unfair business practices by other trading partners in China, EU, Brazil etc. President Ramaphosa, has an opportunity to revisit various trade agreements between SA and other trading partners and see to what extend the interest of SA industries and the economy at large is protected.