Trade Cases

Brazil Considering a Rate Hike for Steel Tariffs
Written by Sandy Williams
November 19, 2015
Brazil is studying a proposal to raise import tariffs on steel goods said Brazilian Finance Minister Joaquim Levy following a hearing of the Economic Affairs Committee of the Senate. The measures would protect the local steel industry which has been vocal in its demand for a rate hike.
No details on specific products or rates were given but the Folha de S Paulo news reported that rates for some steel products could rise to between 15 and 20 percent from the current rate of 8 percent to 14 percent.
The news prompted a rise in share price at Brazilian steel companies.
In September 2012 tariffs for 100 products, including steel, were raised from 14 percent to 25 percent but were restored after one year.
According to Foreign Trade Ministry statistics, steel imports in the first ten months of 2015 totaled 3 million tonnes, down 13.5 percent year over year from 3.98 million tonnes. The value of the steel imports, however, dropped from $698.88 million FOB in 2014 to $443.21 million FOB in 2015.
October steel sheet products dropped 38.3 percent from the same month in 2014. HRC imports were up 116.5 percent y/y, CRC fell by 4.66 percent and hot dip galvanized imports dropped by 58.86 percent.
Imports of finished steel from China increased 5 percent in Latin America between January and September 2015, reaching 6.3 million tons. However, China imports to Brazil decreased 35 percent during the period.
A decision a tariff increase is anticipated by the end of the year.

Sandy Williams
Read more from Sandy WilliamsLatest in Trade Cases

Price: Expect new trade shocks as Trump’s ‘reciprocal’ tariff negotiations continue
President Trump cast a wide net with the proposed, reciprocal tariffs. The negotiating stage will be critical to determining the success of his strategy. And for those suffering tariff whiplash, don’t expect the pace of change to slow down just because the reciprocal tariffs are entering a negotiating phase.

SMU Survey: Less support seen for Trump tariff policies
Meanwhile, an increasing number think it's too early to say whether the penalties are going to bring more manufacturing to the US.

CRU: USW seeks exclusion for Canada from Trump’s tariffs
The union is also urging stronger enforcement against countries such as China which break trade rules, and a coordinated Canada-US strategy to protect union jobs across the North America

Price on trade: A lot happened last week – and it wasn’t all about tariffs
Should foreign investment be allowed to reshape the American steel Industry? Not to be lost in the recent on-again-off-again tariff frenzy, Nippon Steel’s proposed takeover of U.S. Steel has also found itself in President Trump’s crosshairs when it comes to trade and industrial policy. Nippon Steel initially announced its nearly $15-billion bid for U.S. Steel […]

Trump signs executive order aimed at making US shipbuilding ‘great again’
President Trump on Wednesday signed an executive order meant to breathe new life into American shipbuilding and curb Chinese dominance in the sector.