Egyptian Prime Minister Moustafa Madbouly on Thursday reviewed the government's recent decree imposing temporary safeguard duties on steel imports with Investment Minister Hassan El-Khatib, as they assessed its impact on prices, domestic output and the country's import bill. El-Khatib told the Cabinet that the 200-day duties, introduced on September 14, cover hot-rolled and cold-rolled flat products, galvanised and color-coated sheets, as well as billets. He said the measures were aimed at protecting domestic producers and ensuring fair competition, as steel represents a key input for vital industries. He added that Egypt has a strong legal and economic case for the duties, citing a sharp increase in steel imports between 2022 and 2024 that hurt local factories. Complaints from manufacturers prompted the government's investigation, which found that rising imports had caused "serious harm" to local industry, El-Khatib said. The safeguard measures also align with global practice, as many countries have adopted protectionist policies amid a worldwide steel glut. The minister said the Cabinet was monitoring how the measures affect downstream industries, including engineering and transport, which rely on steel products. Attribution: Amwal Al Ghad English
