Brazil doubles import tax on steel wires, ropes to protect local fabricators

Brazilian trade body GECEX, part of the Development, Industry, Commerce and Services Ministry, announced Oct. 17 it was doubling import tariffs on imports of steel wires and ropes, as well as various types of iron and steel construction goods “to strengthen [the] Brazilian industry.” Imports of these products have increased significantly in recent times, causing harm to local producers, GECEX…Brazilian trade body GECEX, part of the Development, Industry, Commerce and Services Ministry, announced Oct. 17 it was doubling import tariffs on imports of steel wires and ropes, as well as various types of iron and steel construction goods “to strengthen [the] Brazilian industry.” Imports of these products have increased significantly in recent times, causing harm to local producers, GECEX…Read More