Measure charged additional fees of 74.52% and was in force since 1993; valid for exports of carbon steel sheets
The Brazilian Ministry of Foreign Affairs announced this Monday (January 23, 2023) that the United States International Trade Commission decided to revoke the application of a surcharge on exports of carbon steel sheets from Brazil to the North American country.
The barrier had been in effect since 1993. The US will now stop charging additional fees of 74.52% on imports of materials from Brazil. According to Itamaraty, the repeal will give a “increment” to the steel sector.
“The decision, announced on the last January 10th, stems from the conclusion that the extinction of the measure for Brazilian exports will not imply material damage to the US industry”said Itamaraty.
According to the folder, Brazil exported around US$ 9.3 billion in steel products in 2021. Of the total, US$ 5.1 billion were destined for the USA, representing 54.1% of Brazilian exports. Brazilian exports of carbon steel thick plates totaled approximately US$ 75 million in 2021.
In July 2022, the US government announced that it reversed restrictive measures against the export of cold-rolled steel.
Here is the full text of the note released by Itamaraty at 4 pm:
“The United States International Trade Commission (USITC) decided to revoke the anti-dumping duty applied to Brazilian exports of carbon steel plates (“cut-to-length carbon steel plates”), which had been in force since 1993. Thus, the US will no longer charge additional fees of 74.52%, in the form of an ad valorem rate, on imports of carbon steel sheets originating in Brazil. It should be noted that there was no change or revocation of the trade defense measures referring to the other markets subject to the end-of-period review carried out by the USITC, with Brazil being the only country excluded from the surcharge.
“The decision, announced on the last January 10th, stems from the conclusion that the extinction of the measure for Brazilian exports will not imply material damage to the US industry, which was demonstrated throughout the review process by exporters and the Brazilian Government, through the joint action of the Foreign Trade Secretariat (SECEX), part of the structure of the Ministry of Development, Industry, Commerce and Services, and the Ministry of Foreign Affairs.
“In 2021, Brazil exported around US$ 9.3 billion in steel products, of which US$ 5.1 billion was destined for the USA, which represents 54.1% of Brazilian exports in this segment. Brazilian exports specifically related to thick carbon steel plates totaled approximately US$ 75 million in 2021, and this market may experience an increase from the revocation of the trade defense measure by the US Government.
“The Brazilian Government will remain committed to the normalization and expansion of steel trade with the US, an important partner in the sector, taking into account the links and integrated chains between Brazil and the US in the steel industry.”
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