Steel import tariff of 10% to be introduced

The government will conditionally introduce a 10% import tariff on steel imports to protect the struggling industry with the possibility of more hikes soon, an industry body said yesterday. Cheap imports from China are hurting steel makers with ArcelorMittal warning it could close a plant that employs 1200 people while smaller rival Evraz Highveld Steel and Vanadium has been placed in the hands of administrators to rescue the business.