In Brazil, the aluminum industry has enthusiastically welcomed a recent measure granting an additional price to Chinese exports of aluminum rolled products. This will generate fair prices for locally produced sheet and plate and is expected to promote international trade in this area.
The Brazilian government received a suggestion from the Department of Trade Defense on the issue of the various subsidies provided by the Chinese government to help export its aluminum products, which was causing evident damage to the national industry. They then opted to apply compensatory measures to counteract these incentives.
On the other hand, the Brazilian government has implemented a five-year tax to be paid by exporters. This will be a fixed amount, with two different rates: 14.88% and 14.93%, calculated on the customs value of the product.
For the Brazilian Aluminum Association (ABAL), the imposition of the countervailing duty represents a victory for the sector and for the country, as it combines joint efforts to restore the industry’s competitiveness, in addition to strengthening the business environment. Janaina Donas, director of ABAL pointed out in this regard:
“The measure guarantees predictability and legal certainty for companies investing and betting in Brazil.”
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