The Latin American Steel Association Alacero has made some evaluations regarding the 25 percent tariffs lately announced by the US on imports of steel and aluminum from all countries.
Accordingly, the association stated that it is surprised by the tariff decision, which even cancels bilateral agreements between countries. It underlined that Latin America is among the regions that has also been impacted by unfair trade practices of countries such as China, resulting in the introduction of steel quotas.
In the meantime, Alacero believes that regionalization seems to be the best course of action against China and the Southeast Asian countries through tariffs that focus on real threats. Regional countries that do not understand China’s effect on the global market will be the most exposed to a flood of overproduction from China, with the corresponding threat to the entire value chain of Latin America. As a result, the association said it hopes that rationality and logic will prevail and that the strategic alliance that the US has forged in the past with the Latin American countries can be effectively rebuilt.