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On Monday (23), the Ministry of Foreign Affairs announced that the United States International Trade Commission decided to revoke the application of a surcharge on some exports of carbon steel plates from Brazil to the North American country.
This barrier had been in effect since mid-1993. The US decided to stop charging additional fees of 74.52% on the importation of materials coming from Brazil. According to Itamaraty, this revocation will give a “boost” to the steel sectors.
“The decision, announced on January 10, arises from the conclusion that the elimination of the measure for Brazilian exports will not result in material damage to the US industry,” Itamaraty said.
According to the ministry, the country exported nearly US$ 9.3 billion in steel products in 2021. A total of US$ 5.1 billion was specifically destined for the US, representing over 54.1% of Brazilian exports. These Brazilian exports of thick carbon steel plates totaled approximately US$ 75 million in 2021.
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In July 2022, the US government announced a reversal of the restrictive measures against all exports of cold-rolled steel.
See the statement released by Itamaraty:
“The United States International Trade Commission (USITC) decided to revoke the antidumping duty applied to Brazilian exports of carbon steel plates, which had been in effect since 1993. Thus, the US will no longer charge additional fees of 74.52%, in the form of an ad valorem rate, on the importation of carbon steel plates originating from Brazil. It is important to note that there was no change or revocation of trade defense measures regarding other markets subject to the final period review conducted by the USITC, with Brazil being the only country excluded from the surcharge”.
“The decision, announced on January 10, arises from the conclusion that the elimination of measures for Brazilian exports will not apply material damage to the US industry, which was demonstrated throughout the review process by exporters and the Brazilian government, through the joint efforts of the Secretariat of Foreign Trade (SECEX), part of the Ministry of Development, Industry, Commerce and Services, and the Ministry of Foreign Affairs”.
“In 2021, Brazil exported about US$ 9.3 billion in steel products, of which US$ 5.1 billion was destined for the US, accounting for 54.1% of Brazilian exports in this segment. Brazilian exports specifically related to thick carbon steel plates totaled approximately US$ 75 million in 2021, with this market potentially experiencing a boost following the reversal of the commercial defense measure by the US Government”.
“The Brazilian government will continue to work towards normalizing and expanding steel trade with the US, an important partner in the sector, considering the links and integrated supply chains between Brazil and the US in the steel industry.”
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