Brazilian exports of steel products totaled $9.3bn in 2021 and are expected to grow this year
The United States International Trade Commission (USITC) decided to lift the antidumping duty applied to Brazilian exports of carbon steel plate, in force since 1993.
According to the Ministry of Foreign Affairs, the U.S. will no longer charge additional 74.52% ad valorem duties on the import of carbon steel plates from Brazil.
“It should be noted that there was no change or revocation of trade defense measures for the other markets subject to the end-of-period review conducted by the USITC, with Brazil being the only country excluded from the surcharge,” said the Foreign Affairs Ministry, known as Itamaraty.
In a statement, the Brazilian government said it was proven that the extinction of the measure for Brazilian exports will not result in material damage to U.S. industry.
According to Itamaraty data, in 2021 Brazil exported $9.3 billion in steel products. Of this, 54%, or $5.1 billion, were destined for the United States. Brazilian exports related specifically to carbon steel heavy plates totaled approximately $75 million in 2021, a market that may increase after the surcharge lift.
*By Matheus Schuch — Brasília
Source: Valor International