It is reported by BNamericas that Brazil is planning to increase tariffs on steel imports, which was said by Mr. Christiano Freire, president of steel distributors association Inda.
He mentioned that Brazil to raise rates of numerous non taxed products to 12 percent from March, 2009, expecting the government would impose taxes from hot and cold rolled products.
Actually the volume of Brazilian steel imports is dropping because of exchange rate between US dollars and Brazilian real and tight credit.
The president also added that decreasing imports benefit Brazilian market because it cuts down the steel stock in the market. Source: Yieh.com