ITAC initiates safeguard investigation on fasteners
On 1 March 2019 ITAC (the International Trade Administration of South Africa) initiated a safeguard investigation on imports of threaded fasteners of iron on steel: bolt ends and screw studs, screw studding and other hexagon nuts (excluding those of stainless steel and those identifiable for aircraft).
The application for safeguard action was lodged by the South African Iron and Steel Institute (SAISI) on behalf of the South African Fasteners Manufacturers’ Association. The application alleges that it was not foreseen that the fastener production capacity, specifically of China, would increase to such an unprecedented extent as to cause a surge of imports into the South African Customs union (SACU) market. The surge of imports into SACU was further intensified as other nations imposed trade remedy actions against imports from China.
Should the safeguard application succeed, it can either result in the temporary restriction of imports by imposing a quota or a higher tariff. Interested parties have until 21 March 2019 to submit comments on the initiation of the investigation or on any information regarding the application. For a copy of the notice, kindly click here.
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