Brazil has extended a 25% tariff on steel imports as part of a review of customs restrictions on imports of these products from other countries.
According to a publication on the website of the Brazilian Ministry of Development, Industry, Trade and Services, the Executive Committee of the Brazilian Chamber of Commerce (GECEX/CAMEX) is resuming measures to strengthen the national steel industry.
At the same time, it is noted that the decision preserves the protection of the Brazilian steel industry from import surges against the background of an uncertain global scenario. The Executive Steering Committee of the Chamber of Commerce and Industry (Gecex-Camex) has extended the tariff measures adopted last year to reduce the surge in steel imports in order to continue strengthening the national industry in this sector.
The board meeting was held this Tuesday.
According to the Gecex/Camex decision, the 25% tariff on 19 types of metal products was retained, in addition, its effect was expanded by four more (the total number is 23). The inclusion of additional items is related to the identification of a significant increase in their imports over the past year. This indicates that these types of products were used as substitutes for those that were initially covered by the tariff. The events will be valid for 12 months.
As in last year's decisions, the quota system was maintained for certain volumes of imports that can be imported into the country at initial NCM (classification system) rates from 9% to 16%. However, imports carried out under trade agreements or special regimes were excluded from the calculation.
