"No decisions have been made," said Larry Kudlow, director of the National Economic Council, as reported by the Wall Street Journal, which called into question the entry into force of trade barriers. Thus, he confirmed that the US government is still studying the measure.
In early December, Trump surprised the markets with his announcement, by opening a new commercial battle front, with an announcement that seemed categorical and imminent. “Brazil and Argentina have been presiding over a massive devaluation of their currencies, which is not good for our farmers. Therefore, with immediate effect, I will restore tariffs on all steel and aluminum that are sent to the US from those countries, ”he wrote on his Twitter, without mentioning additional discussions about the measure.
Subsequently, Washington did not release a document formalizing the decision.RELATED
In March 2018, the Trump administration had shaken the trading board when it announced tariffs of 25% on steel and 10% on aluminum, in what was the beginning of a tariff confrontation with China. However, the White House announced two weeks later an exemption for Argentina, Australia, Brazil, South Korea and the European Union.
To achieve the exclusion of this measure, the Government of Mauricio Macri had argued that its imports represent only 0.6% of US totals and among the countries of origin of steel imports it occupies the 26th place. However, the relationship Yes it is key for Argentina, since the US market is the main destination of these exports, for an approximate USD 700 million.
The case is more damaging for Brazil, which at 2018 data represented 13% of US steel imports. The Latin American giant's claim claimed the complementarity of the productive chains.
The United States imports 20 million tons per year, for 24,000 million dollars, which makes it the largest buyer in the world, according to data from the German Ministry of Economy.