Brazil has renewed and expanded its safeguard measures on steel imports, maintaining a 25% tariff on 19 types of steel products and adding four more to the list, totaling 23. The decision aims to protect the domestic steel industry from a surge in imports, particularly from countries like China and Russia.
The quota system allows certain import volumes at lower tariffs (9% to 16%), but imports exceeding the quota face the full 25% tariff. However, imports under trade agreements or special regimes are excluded, a point of contention for local steelmakers.
Despite these measures, Brazilian steel companies have criticized the system as ineffective, noting a 27.5% year-on-year increase in steel imports in early 2025. Shares of major steelmakers like CSN, Usiminas, and Gerdau have declined following the announcement.
Vietnam Steel by Hoa Sen Group
