LatinNews Daily - 26 July 2022

In brief: US and UK ease steel tariffs on Brazil

* Brazil’s economy ministry has confirmed that the US and UK have eased tariffs on two Brazilian-manufactured steel products. The US revoked an 11% anti-dumping duty on Brazilian cold rolled steel, which had been in force since 2016. The removal of the anti-dumping duty lowers the tariff on Brazilian cold rolled steel to 35%. Brazil was the only country to be excepted from the 2016 measure, and the anti-dumping duty remains in place for the other countries included in the tariff – China, India, Japan, South Korea, and the UK. The economy ministry also highlighted that the UK has lifted a safeguard measure on Brazilian-manufactured steel sheets and cold rolled steel, which had previously seen a 25% additional tariff imposed once import quotas had been exceeded. An economy ministry statement notes that of the US$7.3bn steel products exported by Brazil in 2019, nearly half (US$3.4bn) went to the US and the UK.

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