Arab Finance: The American Chamber of Commerce has submitted a proposal to the US Department of Commerce to reconsider the temporary tariffs imposed on Egyptian steel imports, Omar Mohanna, President of AmCham Egypt, revealed to Alarabiya Business.
The proposal included fully scrapping the tariffs, and not just cutting them, Mohanna noted.
According to Mohanna, the American side showed clear openness to the negotiations, without expressing any objections, and pledged to study the matter in the coming period.
He also pointed out that Egyptian steel exports to the American market are limited in terms of volume and impact on the market, which supports the chances of reaching an agreement, particularly amid the strategic relations between the two countries.
Meanwhile, US-based companies voiced interest in investing in Egypt, particularly in the energy, infrastructure, logistics, and food industries, Mohanna said.
Last January, the US Department of Commerce decided to impose a countervailing duty of 29.51% on Egyptian imports of steel reinforcing bars (rebar) as preliminary findings showed that Egyptian producers and exporters of rebar are receiving government subsidies subject to countervailing duties.
It is worth noting that the investigation took place from January 1st to December 31st, 2024, with the decision taking effect on January 13th, 2026.
