Posted on 15 Feb 2019
The Brazilian authorities are continuing to work to find solutions to face the unilateral trade protection measures imposed on its exports by the EU safeguard legislation, Kallanish notes.
The country`s Ministries of Economy, Agriculture and Foreign Affairs are working on a methodology to apply reciprocal measures in response to the European Union safeguard system. The news originating from Brazilian media reports has been confirmed to Kallanish in a note by the local steelmakers’ association Instituto Aço Brasil (IAB) and distributors' organisation Inda.
“The government is evaluating a response to the EU imposition of tariffs to Brazilian steel imports. The measures could be announced in the coming days,” the associations confirm.
It is understood that the application of equivalent measures would include a large list of goods to level the Brazilian steel trade deficit with the EU. The safeguard measures imposed by the EU will remain in place until 2022.
