The Brazilian foreign trade authority CAMEX announced the increase of import tax for rebar and certain steel pipe products.
The increase was from 10.8 to 12 percent for rebar, and from 12.6 to 14 percent for one of the piping families and from 14.4 to 16 percent for another one.
The announcement has reportedly frustrated the local steel industry, which asked the government for an increase of the tax to 25 percent, as an alternative to compensate for the increasing imports of steel products, chiefly from China, at alleged dumping prices.
The frustration also derives from the fact that the products covered by the announcement are not important considering the recent volume of imports. Sources say there is no complaint about dumping prices for the import of these products, differently from the case of flat steel products, which were not included in the announcement and are the focus of the complaints.
According to the local press, a source from CAMEX mentioned that, with the increase, the taxes return to the level of 2022, when they were reduced by decision of the fiscal authorities, adding that the increase of the import tax, as asked by the steel industry, remains under evaluation.