Both the US and the UK revoked strict measures against Brazilian exports of steel products. The US and the UK are two of the main markets for Brazilian steel – In 2019 Brazil exported around US$ 7.3 bil. in steel products, of which more than US$ 3.4 bil. to the US and the UK.
The United States announced the revocation of anti-dumping and countervailing measures against Brazilian exports of cold-rolled steel products (in force for more than five years), thus fails to charge additional fees of up to 46% antidumping duty and 11% countervailing measures.
The US agreed with the Brazilian argument that lifting these measures would not damage US industry. Brazil has been the only country excluded from the charges over its steel products, which still apply to India, Japan, South Korea, China and the United Kingdom.
The United Kingdom announced Brazil will not be subject to a 25% surcharge on steel sheets and on cold-rolled steel products, since the country was able to establish that the pre-established maximum periodic export volume had not been exceeded, meeting WTO’s exemption criteria.