CAIRO — Some of Egypt's steel industry rerollers have halted production and sales in the face of protectionist duties the country recently began levying on some imports. One industrial organization says the tariffs could lead to the loss of thousands of jobs.
The tariffs aim to protect domestic iron billet makers from foreign competitors. Large steel processors make their own billets and therefore don't rely on imports, but local steel rerollers and small factories are caught in the middle.