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Tariffs ‘hurt concept’ of fair trade: Aço Brasil

Mar 02, 2018 | 01:01 PM |

Tags  steel, Brazil, 232, Aço Brasil, MDIC

SÃO PAULO — The inclusion of Brazil-origin goods in forthcoming US tariffs on imported steel does not meet the terms of a fair trade relationship, Brazilian steel institute Aço Brasil said on Friday March 2.

US President Donald Trump will sign off on tariffs of 25% on steel imports and 10% on aluminium imports at some point in the coming week, and keep them in place for a “long” period, he confirmed during a meeting with steel and aluminium executives on Thursday March 1.

Brazil had hoped to avoid being included in such measures.

Aço Brasil earlier sent a delegation to the United States to seek exemption.

“Brazil has been surprised by the possibility of being included in the list of 12 countries that could be affected by a 53% import tariff,” the association said.

“The announcement [on Thursday] that Brazil will be framed in the 25% steel import tariff corrects this distortion, but still does not meet what we consider to be a fair trade relationship,” it added. “Therefore, Brazil will appeal.”

Following the announcement, Brazil’s foreign trade ministry, MDIC, said that the country’s government will look for ways to avoid being included in any measures related to the US Section 232 investigations.

The Brazilian government expects to work constructively with the US to avoid the possible application of import tariffs, which would bring significant losses to metals producers and consumers in both countries, MDIC minister Marcos Jorge said.

The MDIC did not rule out the possibility of complementary actions, in the multilateral and bilateral scope, to preserve its interests in this case, he added.

Ana Paula Camargo

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