Arab Finance: Minister of Industry Khaled Hashem has called on the US Department of Commerce to reconsider recently imposed temporary tariffs on Egyptian rebar exports to the US market, according to a statement.

The appeal came during a meeting with Omar Mohanna, Chairman of the American Chamber of Commerce in Egypt (AmCham Egypt), as both sides discussed ways to enhance economic cooperation between Egypt and the US.

Hashem emphasized the government's keenness to deepen bilateral trade cooperation over the coming period and attract more American investments to the Egyptian market.

The minister highlighted major opportunities for US companies to invest in Egypt, particularly in establishing data centers to serve both local and global markets. These investments could support the expansion of AI-based industries and accelerate industrial development.

American companies can also participate in building renewable energy plants, as well as the installation and operation of energy systems in industrial zones.

Currently, the ministry is focusing on key industries during this phase to restore Egypt's position on the global industrial map, while also streamlining the procedures for allocating industrial land to facilitate project establishment.

In line with ongoing economic reforms, the government is also developing a sustainable financing mechanism by launching industrial investment funds, where citizen participation is allowed. The first fund is expected to be operational in the fourth quarter (Q4) of 2026.

In January, the US imposed a countervailing duty of 29.51% on Egyptian imports of rebar, as preliminary findings showed that Egyptian producers and exporters of rebar were receiving government subsidies subject to countervailing duties.