Joint Press Release by the Ministry of Foreign Affairs and the Ministry of Economy - United States and United Kingdom revoke restrictive measures against Brazilian exports of steel products

The United States announced, on July 19th, the revocation of antidumping and countervailing measures against Brazilian exports of cold-rolled steel products, which had been in force for more than five years in that country. According to the decision, the extinction of the measures will not lead to the continuation or resumption of the alleged material damage to the U.S. industry, as demonstrated by Brazil.

The USA, therefore, stops charging additional duties of up to 46% - 35% antidumping duty and 11% countervailing measure - on imports of cold rolled products from Brazil. There were no changes in the measures on the same products charged from other origins (China, India, Japan, South Korea and the UK), with Brazil being the only country excluded.

Additionally, the UK had announced, on June 23, the exclusion of Brazil from the application of the safeguard measure on steel plates and cold-rolled steel products, which had been subject to a 25% surcharge for one year, once the pre-established periodic maximum volume was exceeded. Brazil proved to the British authorities that the country's export volumes fell within the exemption criteria authorized by the World Trade Organization (WTO) Agreement on Safeguards.

With this exclusion, Brazil is now exempt from all categories of the UK's safeguard on steel products, which is scheduled to be in force until June 2024.

In both cases, the Brazilian Ministries of Economy and Foreign Relations acted jointly. The US and the UK are two of the main markets for Brazilian steel. In the year 2019, Brazil exported about $7.3 billion in steel products to the world, of which more than $3.4 billion went to the US and the UK.