Egypt seeks exemption from U.S. steel, aluminum tariffs

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Wed, 14 Mar 2018 - 03:39 GMT

FILE PHOTO: An employee looks at an aluminum foil roll being lifted at a plant in Binzhou, Shandong province, China May 16, 2017. Picture taken May 16, 2017. REUTERS/Stringer

FILE PHOTO: An employee looks at an aluminum foil roll being lifted at a plant in Binzhou, Shandong province, China May 16, 2017. Picture taken May 16, 2017. REUTERS/Stringer

CAIRO – 14 March 2018: There are attempts with the United States to exempt 12 countries, including Egypt, from the fees imposed by President Donald Trump on imports of steel and aluminum, official Egyptian sources stated on Wednesday.

The sources told the media delegation accompanying the Door Knock mission in Washington that Egypt seeks to be among the exempted countries.

Members of the American Chamber of Commerce in Egypt (AmCham Egypt) arrived in Washington D.C. on Sunday to start the annual “Door Knock” mission in Washington.

The Door Knock mission lasts for five days from March 11 to 16 to promote investment in Egypt. The delegation includes 35 Egyptian companies to highlight the progress of the economic reform measures undertaken by the government and their impact on businesses, as well as to share their perspectives on issues of importance to the bilateral strategic relationship between the two countries.

The sources attributed Egypt’s intention to the percentage of Egypt’s exports of aluminum and steel to U.S., which don’t exceed 0.5 percent of America’s imports, representing $100 million annually.

Minister of Industry and Foreign Trade Tarek Kabil is preparing a detailed report to the Foreign Ministry in order to communicate with the American side.

U.S. President Donald Trump is preparing to impose a 25-percent tax on imported steel and a 10-percent tax on imported aluminum.

Trump was expected to sign a presidential proclamation to establish the tariffs during a ceremony on Thursday, but a White House official said later it could slide into Friday because documents had to be cleared through a legal process.

A White House official said on Wednesday night that Trump plans to offer Canada and Mexico a 30-day exemption from planned tariffs on steel and aluminum imports, which could be extended based on progress in NAFTA talks.

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