There is a steel importer who will see their duty liability increase by R119 million on the day International Trade Administration Commission (Itac) imposes its proposed steel tariffs, says Donald MacKay, CEO of XA Global Trade Advisors.
“I don’t know who this company is, but our own Liberation Day will deal a hefty blow to their income statement.
“Maybe you think they deserve it for not buying more of their steel locally, because as President Trump has taught the world, importing is bad, local manufacturing is good and exporting is the best.
“How you trade now has a strong moral component to it.”
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