As per media reports Brazilian President Mr Jair Bolsonaro was to ask US President Mr Joe Biden in a bilateral meeting on 9 June in the sidelines of the Summit of the Americas in Los Angeles was to seek relief on US tariffs on imports from Brazil, including 25% Section 232 duties on steel products mainly steel slabs imposed by former President M Donald Trump in 2018. US have established a tax-free quota of 3.5 million tonnes per year of Brazilian steel but during the first four months of 2022, the volume has already reached 2.32 million tonnes. The reasoning behind the Brazilian demand is that Brazilian slab producer’s import coking coal from the US, and while increasing slab imports from Brazil, the importers in the US will be less dependent on Russian slab.In 2021, Brazil exported 5.57 million tonnes of slabs to the USAs president, Mr Trump adopted several protectionist measures to contain imports, on the grounds that he intended to preserve US jobs. Mr Biden, who has been in office for a year and a half, still has many of those measures in place. However, after the pandemic and the War in Ukraine, the United States started talking about near-shoring, a move to bring industries and production chains spread across the planet closer, in a move that can benefit Latin America. The US government hopes that, in addition to improving the region’s economy, it will also help to discourage the migration of Latin Americans to the US.
As per media reports Brazilian President Mr Jair Bolsonaro was to ask US President Mr Joe Biden in a bilateral meeting on 9 June in the sidelines of the Summit of the Americas in Los Angeles was to seek relief on US tariffs on imports from Brazil, including 25% Section 232 duties on steel products mainly steel slabs imposed by former President M Donald Trump in 2018. US have established a tax-free quota of 3.5 million tonnes per year of Brazilian steel but during the first four months of 2022, the volume has already reached 2.32 million tonnes. The reasoning behind the Brazilian demand is that Brazilian slab producer’s import coking coal from the US, and while increasing slab imports from Brazil, the importers in the US will be less dependent on Russian slab.In 2021, Brazil exported 5.57 million tonnes of slabs to the USAs president, Mr Trump adopted several protectionist measures to contain imports, on the grounds that he intended to preserve US jobs. Mr Biden, who has been in office for a year and a half, still has many of those measures in place. However, after the pandemic and the War in Ukraine, the United States started talking about near-shoring, a move to bring industries and production chains spread across the planet closer, in a move that can benefit Latin America. The US government hopes that, in addition to improving the region’s economy, it will also help to discourage the migration of Latin Americans to the US.
