Honduras Protects Local Steel Production

Despite opposition from the construction sector, the Ministry of Economic Development increased tariffs on imports of Chinese iron rods from 15% to 35%.

Wednesday, March 11, 2015

Authorities at the Ministry of Economic Development (SDE) argue that this temporary measure, seeks to protect the companies Aceros Alfa and Aceros Centro Caribe, which produce the rods. Domestic production of iron rod covers approximately 70% of demand and the rest is imported from China.

The Minister Alden Rivera told Elheraldo.hn that "... In Honduras we have two companies that generate thousands of jobs and millions of dollars in foreign exchange, and as a government we are obliged to protect domestic industry from circumstantial facts .. . The 35% only applies to non-preferential exports, not to product which come in under trade agreements. "

Rivera added that "... In China iron is subsidized, which has caused an oversupply and for those reasons it is coming to the American continent, for which reason countries in the region agreed to raise the tariff to 35%. The idea is protect local industries from a measure by the Chinese government to free up a lot of iron that is not being used by the construction industry and which they decided to move to Latin America. "

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