After the US government informed that it will not extend additional restrictive measures against Brazilian exports of steel products, the Instituto Aço Brasil celebrated the decision in a statement. According to the entity, the Brazilian government played an important role in overthrowing the imposed barriers.
as showed the broadcastthe United States of America International Trade Commission (USITC) decided not to extend the antidumping and countervailing measures against Brazilian exports of hot-rolled flat steel products, which were in effect since October 2016.
According to Instituto Aço Brasil, the decision specifically benefits exports of hot rolled flat products to the US.
“A similar initiative had already favored sales of cold rolled products to the same market in July. Access to the American market, however, still imposes a strong restriction on Brazilian exports of these products. This is because the limits created by the annual quotas provided for in Section 232 (defense mechanism of the US market when they believe there is a risk to national security) persist, of 130 thousand tons, of which 108.5 thousand tons are hot-rolled coils and 21.6 thousand tons. thousand tons of thick coils”, informed the institution.
According to Aço Brasil, the limits are considered low compared to the levels historically practiced, since, for their establishment, calculations of average exports were carried out by the US government that considered periods in which restrictive measures were already in force.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
