Good morning! Today, we talk about a recent win for the Brazilian steel industry. How Brazilians are burning up their savings. And the move to celebrate the resistance to the January 8 riots.
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U.S. lifts anti-dumping duties on Brazilian steel
The Brazilian government recently celebrated a move by the U.S. International Trade Commission to lift a 103.4 percent anti-dumping duty on Brazilian exports of non-alloy welded circular steel pipes, which had been in effect since 1992.
👉 Why it matters. The move is a much-needed break for Brazilian steel producers, which have been in a precarious position for years. As The Brazilian Report has shown, the country’s imports of Chinese steel have been going through the roof since 2021. Chinese steel products have a significant price advantage over local producers, stealing a big chunk of the local market share.
- Lobbying organizations for Brazilian steel producers are pushing the government to slap barriers on Chinese steel (as other countries have done). The loss of market share, they say, has led to...