The new United States (US) tariffs on steel imports from all countries jeopardize the Latin American steel industry, affecting approximately 1.4 million workers in total, according to the Latin American Steel Association (ALACERO, by its Spanish abbreviation).

Ezequiel Tavernelli, the director of ALACERO, stated that the 25% tariff is causing major Latin American steel producers, such as those in Brazil, Mexico, and Argentina, to lose access to the U.S. market.

Furthermore, Chinese steel continues to flood the region, placing additional pressure on the Latin American steel industry. According to ALACERO, over the past 20 years, Chinese steel exports have surged from less than 100,000 tons per year to more than 14 million tons per year, undermining the local steel industry.

ALACERO hopes that Latin American countries can reach an agreement with the United States to enhance regional cooperation rather than impose trade restrictions, in order to collaboratively address unfair competition from China.