Egypt may cut cement prices

Daily News Egypt
1 Min Read

Egypt may reduce its tariffs on steel and cement exports later in the year due to an anticipated softening in prices, according to Trade Minister Rachid Mohammed Rachid and cited by Reuters.

The government introduced the taxes in February because of rising domestic prices and to stop foreign buyers taking advantage of Egyptian subsidies. There is a charge of $11.4 per ton of cement exported, and $34.1 per ton of steel.

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