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LatinNews Regional Monitor: Brazil & Southern Cone - 17 January 2019

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In brief: Brazil

* The Brazilian government says it will appeal the European Union’s (EU) decision to curb its steel imports. The EU has agreed on measures to cap steel imports regardless of their origin and preserve regular trade flows in reaction to the metal tariffs imposed by US President Donald Trump. Brazil says that these measures will impact its steel exports, and that it will approach the EU for dialogue. It could also take the case to the World Trade Organization (WTO) and is considering reaching out to other steel exporting countries also affected by the EU’s safeguard measures, due to come into effect in early February. An estimated 18% of Brazil’s total steel exports are destined for the EU, although not all of these would be subject to the bloc’s restrictions.