Latin American Nations Hiking Tariffs On Chinese Steel

Latin American nations are following in the footsteps of the US and Europe by imposing prohibitive tariffs on Chinese imports—a new strain in what has been an otherwise cozy connection, James Attwood, Mariana Durao, and Andrea Jaramillo reported for Bloomberg News.

Mexico, Chile, and Brazil have hiked—and in some cases more than doubled—duties on steel products from China over the past several weeks, and Colombia may be next.

Mexico, Chile, and Brazil have hiked—and in some cases more than doubled—duties on steel products from China over the past several weeks, and Colombia may be next.

These countries are increasingly perplexed by the subsidies apparently enjoyed by Chinese steelmakers.

The relationship is being tested by a global turn toward protectionism, and a flood of Chinese imports that threatens to put Latin American steel producers out of business and risk a combined 1.4 million jobs.

While the steel products, valued at $8.5 billion, are dirt-cheap, many would allege their quality to be shoddy.