Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
ANSWER : The Brazilian Foreign Trade Commission (Camex) announced a 10% increase in import taxes on some steel products on September 30th.
In response to the issue of price abuse in the domestic market, the Brazilian Foreign Trade Commission approved a 10% import tax reduction policy in 2022. The original tax reduction policy will expire on December 31, 2023. However, domestic steel producers in Brazil reported a significant increase in steel imports, with an increase of up to 714%. Therefore, the Brazilian government agreed to terminate the plan in advance.
According to data from the Brazilian Iron and Steel Association (IABr), from January to August 2023, Brazilian steel imports increased by 49.5% year-on-year, reaching 3.19 million tons. After adjustment, the import tax on most steel products in Brazil will rise to a range of 9.6% to 12.8%, covering coils, hot rolled steel coils, cold rolled coils, galvanized steel, aluminum zinc coated steel products,steel wire rods, stainless steel long rods, as well as seamless steel pipes and welded pipes.
