Brazil will appeal to the WTO over steel prices

Brazil’s minister of International Affairs, José Serra, has announced this week that Brazil will appeal to the World Trade Organization (WTO) in order to reduce taxes imposed by the United States over the importation of cold and hot rolled Brazilian steel.

The US International Trade Commission (ITC) ordered an increase in the taxes in March this year after it ruled that Brazilian producers were benefiting from subsidies.

According to Serra, the US is imposing barriers to Brazilian products making the steel exportation more difficult. Usiminas and CSN, the two main steel producers in Brazil, are the companies mostly affected by the new US decision.

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