At an event attended by representatives of the Colombian steel industry, the business leaders of the sector urged the Colombian government to develop quickly mechanisms to curb the influx of cheap and subsidized steel products from China.

The event concluded that tariffs imposed by the US and the EU prevent Chinese steel from entering the world's two largest markets; therefore, the Chinese steel could target markets where it faces no restrictions, such as Colombia.

According to data from the Latin American Steel Association (ALACERO), over the past 15 years, exports of finished and semi-finished steel from China to the region have grown by 233%, from 4 million tons in 2010 to 14.1 million tons. This flood of low-priced Chinese steel has displaced local production, weakening industrial value chains and putting 1.4 million direct and indirect jobs at risk.