The restrictive measures on exports of hot-rolled steel products to the United States, which were in effect since October 2016, will not be extended, said a joint note from Brazil’s ministries of economy and foreign affairs on October 27. According to the note, the United States International Trade Commission (USITC) decided not to extend antidumping and countervailing measures against Brazilian exports of hot-rolled steel products. Thus, the US government will no longer charge additional fees of 45.58% (34.28% antidumping duty and 11.30% countervailing measure) on hot-rolled products imported from Brazil. Brazilian exports of steel products totaled US$ 9.3 billion last year. Of these, US$ 5.1 billion were destined for the US.
Sources: Valor Econômico/Datamar News