Steel Sheet Import Tariff Reduced

Since November 1st, the Honduran government decided to reduce from 35% to 25% the import tariffs for steel sheets and other related products.

Thursday, November 8, 2018

According to businessmen in the sector, the action taken by the authorities seeks to ensure the supply of steel sheets and other similar products at national level, as well as ensuring product price stability.

Agreement 127-2018 was issued by the Secretariat of Economic Development (SDE) and published in the newspaper La Gaceta on November 1st.

See: "Central America: Steel Sheet Imports Up 23%"

Laprensa.hn reports that "... Among the considerations of Agreement 127-2018, it should be noted that the national production of roofing sheets in all its dimensions, profiles, roof racks and metallic structures for roofs (gutters), in addition to supplying the local market, generates enough surpluses for export, thus allowing the capture of foreign exchange, creation of employment sources and collection of taxes for the country."

You may be interested in: "Hardware Stores: Business in Central America"

It is added that "... At present, domestic production of sheet faces difficulties because of a substantial increase in imports from third countries under conditions that threaten to cause damage to the domestic industry, which means that transitional measures must be put in place to correct the source of those difficulties."

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