Anti-Dumping: Brazilian Government Increases Import Tariffs on 5 Steel Products

in Short:

The approval of higher import tariffs on 5 steel products by Gecex-Camex - a body of the Ministry of Development, Industry, Trade, and Services - comes as a response to requests from domestic producers, who claimed the need for anti-dumping interventions against the "invasion of Chinese steel."

The increase, hovering around 1.5%, only applies to long steels and not flat ones - the main point of contention for the industry. Despite steelworks continuing to push for a 20 to 25% tax on imports from foreign competitors.

However, with the small percentage change in taxes, analysts predict only marginal impact, with significant benefits seen only for Gerdau.

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