Trump changes mind on tariff renewal for Brazil

Monday, 23 December 2019 17:53:17 (GMT+3)   |   Istanbul

Donald Trump has decided not to pursue tariffs on Brazilian steel, at least for now, according to an announcement made by Brazilian leader Jair Bolsonaro via social media, following a conversation he had with the US President. As reported earlier, the US was threatening to reimpose the 25 percent safeguard duty on imports of Brazilian steel and the 10 percent tax on imports of ex-Brazil aluminium. No official document has yet been released by the US on the issue.

Accordingly, despite concerns, Brazilian steel exports to the US will remain undisturbed for now, in the slabs segment in particular. “All this time people were trying to understand which volumes might be redirected to alternative destinations. For now, the issue is off the table,” a CIS-based source told SteelOrbis.

Most Recent Related Articles

Ex-CIS billet prices under pressure from weak demand, negative sentiment in scrap

India’s ArcelorMittal Nippon Steel bids to secure iron ore mines in Odisha

China’s HRC output up 10% in 2019, CRC output rises by 3.5 percent

Short sea scrap price down sharply in fresh deals to Turkey