The Gulf Cooperation Council (GCC) plans to set definitive safeguard duties for a number of steel products for a period of three years, it is said in a document issued by the Bureau of Technical Secretariat for Anti Injurious Practices in International Trade (GCC-TSAIP) seen by Fastmarkets on Friday May 7.
In February this year, GCC-TSAIP said that it found recent and sudden increases in imports of certain steel products could pose a threat to the domestic industry.
The safeguard duties are proposed to be set at 16% in the first year of the safeguard measures, and gradually decrease in the following years to 15.2% in the...