Fausto Varela, president of pig iron association Sindifer, believes the Brazilian product will be included on the list of exemptions from the 37.5 percent import tariff the US Trade Representative (USTR) plans to impose under Section 301.
He was quoted by the local press as saying that the imposition of the higher tariff seems unavoidable, despite recent declarations by the Brazilian president, Luis Inácio Lula da Silva, that the higher tariffs will not be imposed.
Analysts questioned Lula da Silva’s statement, debating whether he had privileged information or was simply expressing wishful thinking.
More than 83 percent of Brazil’s pig iron exports go to the US, while Brazil accounts for 60 percent of US pig iron imports.
The USTR is expected to announce its final decision today, July 15.
