The Brazilian Foreign Ministry and the Ministry of Economy indicated that the Brazilian government will continue to seek compensation from the European Union on its safeguard measures against steel imports in order to balance adverse effects of these measures.

The action of the Brazilian government was due to that the European Union ran into force this week the regulation of the import tax surcharge of 25% on the imports of steel that exceeded the limits established by product category, which will be effective until June, 2021.

The safeguard measures had a strong impact on Brazilian steel exports because Brazil was the main producer and exporter of steel in Latin America.