In order to protect the domestic industry, Brazil’s Executive Management Committee for the Foreign Trade Chamber (Gecex-Camex) announced a hike in tariffs on imports of 11 types of iron and steel products to 25% from the previous 10.8-14%.

The decision was based on a request from the National Union of Ferrous Metal Drawing and Rolling Industries (SICETEL), which alleged unfair competition from imported products.

In April last year, Gecex-Camex implemented a one-year quota restriction on these 11 products. Any quantity above the authorized amount should be levied a 25% customs duty. After the new adjustment, the 11 steel products are now subject to a 25% tariff, regardless of the import volume.