Colombia is reportedly mulling options, such as imposing safeguarding duties or anti-dumping (AD) duties over foreign steel exports to the country, following Donald Trump’s 25 percent steel import tariff.
A media report from Colombia’s Portafolio said the nation’s Ministry of Commerce, Industry and Tourism is reportedly in talks with the National Business Association of Colombia (ANDI) to discuss which strategy the nation should purse amid a growing trade war. Colombia’s Committee of Steel Producers (CPA) is a member of ANDI.
The media reported the talks are taking place independently of Trump’s decision whether to exclude Colombia from the import tariff list. ANDI representatives fear the Chinese steel could potentially flood the Colombian market once banned from the US.
Currently, Colombia imports 2.2 million mt of steel out of the 3.5 million mt it consumes annually.
Colombia’s commerce minister, Maruia Lorena Gutierrez, expects to meet US Commerce Secretary Wilbur Ross to discuss Colombia’s exemption from the US Section 232 tariffs during the upcoming Summit of the Americas meeting in Peru.