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Brazil prepares to lower import tariffs on steel products.
Issued at 2013-08-07
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Brazilian ministry of finance Guido Mantega has announced the reduction of import tariffs elevated in September 2012 for 100 products, including steel. The minister attributed the decision to the recovery of the market and the need to avoid domestic inflation.
Last September import tariffs were hiked from around 14% to 25% for some steel products (including some flats and longs). Now these tariffs may be lowered back down to about 16%.
Source: Platts
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