UAE doubles customs duty on steel until October 2026
The UAE has decided to extend the hike in customs duty on steel and steel coils from five per cent to 10 per cent till October next year.
A Dubai Customs notification said that the custom duty increase on reinforcing steel and steel coils would remain at 10 per cent from five per cent till October 12, 2026.
“The decision is as a result of the announcement issued by the Federal Authority for Identity, Citizenship, Customs and Ports Security with reference to the letter by the Ministry of Finance,” it added.
The World Trade Organisation’s “World Trade Outlook and Statistics” shows that the UAE’s foreign trade of iron and steel declined by 6 per cent in 2024.
The UAE steel producers came under the radar after US President Donald Trump increased the import duties on steel and aluminium imports from 25 per cent to 50 per cent.
UAE steel manufacturers had earlier said that the US tariffs have no direct impact on them as their exposure to the US market is modest.
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