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Turkey cancels tariffs on Brazilian steel imports

29 May 2019 17:08 reported by Lemon

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It was reported that Turkey decided not to impose tariffs on steel imports from Brazil after concluding an investigation into the two countries' economic dispute.

A joint statement indicated that the two countries said it was an important development in the economic and trade relations between Brazil and Turkey because the decision involved a factor of great importance to both countries.

According to statistics, between 2016 and 2017, Brazil exported an average of 400,000 tons of steel products to Turkey annually, and the total exports in 2016 were around 13.4 million tons and 15.3 million tons in 2017.

Last year, Brazilian steel companies, including Gerdau S.A. (Gerdau), Companhia Siderúrgica Nacional (CSN), and Usinas Siderúrgicas de Minas Gerais S.A., were granted permanent exemptions from US' steel import duties.

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