The foreign trade division of Brazil's government announced Tuesday that it will place an anti-dumping duty of $743 per metric ton on imported steel pipes used in oil and gas exploration from China. The duty will be applied for five years.
In order to prevent importers from quickly stocking up on Chinese oil and gas pipes, the administration of Brazilian President Dilma Rousseff will also instigate retroactive duties for 90 days.
Chinese export subsidies coupled with a high Brazilian real have been partially blamed for slow industry growth in Brazil so far this year. The tariff on Chinese steel pipes is part of Rousseff's plan to reduce imports into Brazil.