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Romanian Steelmaker Exempt from Tariffs

Romanian Steelmaker Exempt from Tariffs

Tuesday, March 19, 2002
 
The Romanian steel plant owned by Lakshmi Mittal will be exempt from the 30-percent U.S.-imposed duty on steel imports, according to reports out of the United Kingdom. Romania, which last year exported 187,000 tons of steel, is on the list of developing countries, including Argentina, Thailand and Turkey, that will not have to pay the tax when it comes into force on March 20. The U.K. government recently helped Mittal negotiate low-interest loans from the World Bank and the European Bank for Reconstruction and Development, for developing and modernizing its plants.

 

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