UPDATE: Brazil to raise import tariffs on 15 steel products

Brazil's government released a supplemental document on the planned increase in import tax rates, specifying 15 steel products, including hot-rolled coils (HRCs), cold-rolled coils (CRCs), hot-dipped galvanized steel, aluminum-zinc alloy coils, wire rods, and oil country tubular goods (OCTG), as the country's foreign trade body Gecex/Camex published on April 23 local time.

As Mysteel Global earlier reported, the country's foreign trade body on Tuesday decided to enforce import quotas on 11 steel products, alongside the imposition of a 25% tax on imports of these steel products whose volume in 2023 exceeded by 30% the average of external purchases that occurred between 2020 and 2022 to safeguard its domestic steel industry. So, by this