Emirates Customs will raise import tariffs on steel products from 2019

Emirates Customs will raise import tariffs on steel products from 2019

The Federal Customs Administration of the United Arab Emirates announced that since January 2019, the United Arab Emirates has raised import tariffs on threaded steel and wire rods etc. steel products to 10% (previously 5%) in order to protect the development of the domestic steel industry. The Ministry of Economy will evaluate the new tariff rate one year after it is implemented.

According to customs statistics of the United Arab Emirates, the imported trade volume of threaded steel and wire rods etc. steel products was 1.1 billion dirhams (444 million tons) from January to September 2018, of which 656 million dirhams were imported, 392 million dirhams were exported and 26 million dirhams were re-exported.