- July 24, 2020
- Posted by: admin
- Category: Other News & Insights
A safeguard duty of 54.04% has been imposed on threaded fasteners of iron or steel imported under tariff subheadings 7318.15.41, 7318.15.42, and 7318.16.30. New safeguard duties are applied only following an investigation by the International Trade Administration Commission (ITAC).
Safeguard duties protect the domestic industry from a surge in imports of any product. It is an emergency measure to protect the domestic industry. Safeguard duties in South Africa are imposed for at most 3 years, however, Regulations enable a six-year extension.
it is important to note that another safeguard investigation on bolts with hexagon heads of iron or steel is currently ongoing. Click here to find out about the current investigation.
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