CAIRO — Experts agree on the need to support national industry, especially since the Egyptian government has made it easier for foreign companies to import cheap steel to Egypt. The government's imposition of anti-dumping tariffs on importers of steel is costing Egyptians huge sums of money as the economy suffers.
The Egyptian government’s economic reform program and its November decision to float the Egyptian pound gave rise to a growing inflation rate that reached almost 33% this month — the highest in decades. Many Egyptians are questioning the usefulness of imposing anti-dumping duties on imported steel at the risk of suffering an unprecedented rise in steel prices.