Today's Labour News

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seifsaFin24 reports that the Steel and Engineering Industries Federation of Southern Africa (Seifsa) indicated on Wednesday that the decision by the US government not to exempt South African steel products from import duties would cost local exporters an estimated R3bn.  

The US is imposing a 10% ad valorem tariff on imports for aluminium products, and a 25% ad valorem tariff on imports for steel.  “The decision by the US to reject SA’s application for exemption is a travesty,” said Seifsa chief economist Michael Ade.  Seifsa said the decision would deprive the local industry of foreign currency and affect domestic foreign reserves, with an estimated 7,500 workers likely to be affected.  The bombshell decision followed SA’s high-level representations to the US authorities.  Minister of Trade and Industry Rob Davies earlier said the tariffs would put local jobs at risk, particularly in the aluminium industry.  Seifsa suggested that the only option available for SA exporters was to “individually convince their buyers in the US to lobby for exclusions for individual companies from SA on a case-by-case basis, rather than all South African exporters benefiting from a blanket exemption”.  The Federation of Unions of SA (Fedusa) wants the government to appeal the decision, as it was likely to affect jobs.

  • Read this report by Sibongile Khumalo in full at Fin24
  • Read Seifsa’s press statement at Seifsa News
  • Read Fedusa’s press statement at SA Labour News

Get other news reports at the SA Labour News home page