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Montevideo, September 22nd 2018 - 01:35 UTC

Brazil to implement anti-dumping duties retroactively on Chinese steel tubes

Wednesday, September 7th 2011 - 11:05 UTC
Full article 4 comments
The decision also includes air conditioners and bicycles The decision also includes air conditioners and bicycles

Brazil decided to implement anti- dumping duties retroactively to prevent companies from stocking up on imported goods the government says pose a threat to local industry.

The decision makes good on a promise by President Dilma Rousseff to toughen trade barriers to protect manufacturers hurt by a currency rally that’s fuelling a surge of imports from China.

Brazil’s Super Real has rallied 40% against the US dollar since the end of 2008, more than all 25 emerging market currencies tracked by Bloomberg.

As a result of Tuesday’s new rules, the government can apply its anti-dumping tax retroactively 90 days before the a preliminary ruling on whether the price of the imported product costs less than it would in its country of origin.

The government added air conditioners and bicycles as well as five other products to a list of goods subject to higher tariffs under the Mercosur trade agreement with Argentina, Uruguay and Paraguay.

The government also announced that it will charge an anti- dumping duty of 743 dollars per ton on a type of steel tube manufactured in China and used by the oil and gas industries.

According Foreign Trade Secretary Tatiana Prazeres, the government has noted increased imports of these kinds of tubes from China that enter the country under-priced.

“Almost half of the 81 anti-dumping measures taken by Brazil are against Chinese products,” said Prazeres.
 

Categories: Economy, Politics, Brazil.

Top Comments

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  • Fred

    I'm not sure if doing it retroactively it's legal. Anyway, permanent response could be only by investing on workers specialization. You can't compete with China's low prices but you can manufacture some things that they don't.

    Sep 07th, 2011 - 11:15 am 0
  • Fido Dido

    it is legal and you cannot compete with SLAVE wage prices from Communist China. China is opening up (only if you give them what they want and greedy business people from the naive west falls for it, after all, they are so blind or they see it but don't care and only smell profits, money), but china is still a ruled by a Communist Government who decides for the people include how much they will earn.

    Sep 07th, 2011 - 08:32 pm 0
  • Bubba

    It is impossible to compete with SLAVE wages paid to Chinese workers. When some of the new millionaire Chinese have been interviewed the most common response is they want use their new wealth to get out of China.

    Sep 08th, 2011 - 10:33 am 0
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