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Trump returns duties on steel and aluminum for Brazil and Argentina

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Trump returns duties on steel and aluminum for Brazil and Argentina
December 02
13:00 2019

United States resumes duties on steel and aluminum from Brazil and Argentina.

The American President said he was dissatisfied with the fact that Brazilian and Argentinean supplies were becoming more competitive in the world market due to weak national currencies.

According to Bloomberg, since the beginning of the year, Brazil has ranked second among the main importers of steel in America. The volume of its deliveries is 3.8 million tons. This is about 14% of all steel produced in Brazil.

On Monday, Brazil’s leader Jair Bolsonaro said he would like to discuss with President Trump the decision to return the duties.

In 2018, America imposed increased sanctions on steel and aluminum. Argentina and Australia were the exception. Brazil and Korea could import steel duty free to the United States.

Restrictions on steel import have also affected the Russian Federation.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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