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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More on this topic

Steel Sheets: Imports up 2%

December 2018

In the first half of the year, iron and steel sheet purchases in the countries of the region totaled $525 million, 2% more than imports in the same period in 2017.

Figures from the information system on the Iron and Steel Sheet Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]

Controversy Over Steel Rod Import Tariff

May 2018

ArcelorMittal has requested the restoration of a 15% import duty on steel rods, arguing that "the vast majority of these imports enter the country without paying taxes, taking advantage of a legal loophole".

After the reaction from the construction sector, the steel rod manufacturer in Costa Rica, ArcelorMittal, justified its decision to request an investigation from the Ministry of Economy, Industry and Commerce (MEIC) to decide if it will impose a safeguard measure and impose a 15% tariff on imports of the product.

Guatemala: Market Study on Steel and Iron Sheets

August 2015

Imports of iron and steel sheets in Guatemala in 2014 recorded a more than $1 million increase compared to 2013.

Some data in the report:

Imports of rolled products (hot), flat iron or non-alloy steel more than 10mm thick, showed an increase of $3.8 million between 2013 and 2014.

Honduras Protects Local Steel Production

March 2015

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

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.

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