Argentina suspends surcharge on Brazilian stainless steel cutlery

After more than six years, Argentina has suspended the anti-dumping surcharge that could reach up to 47.19% applied to Brazilian exports of stainless steel cutlery. The measure, in place since April 2018, was originally imposed by the Argentine government, which argued that Brazilian products harmed the competitiveness of similar Argentine goods.

In 2023, Argentine authorities began to reassess the measure, with active participation from the Brazilian government. The Ministries of Foreign Affairs and Development, Industry, Commerce, and Services (MDIC) engaged in continuous dialogue with the national companies involved, providing all necessary clarifications.

Despite the anti-dumping measure, Argentina was the third-largest destination for Brazilian stainless steel cutlery exports in 2023. Brazilian exports to Argentina exceeded US$6.5 million and totaled more than 522 tonnes, representing 11.6% of the total volume of Brazilian exports under this category.

In a joint statement, Itamaraty and MDIC announced that the competitiveness of Brazilian cutlery exports to Argentina will benefit from the surcharge’s end, opening new opportunities for Brazilian producers. “This is a positive result for the sector and Brazil’s economic-commercial relationship with Argentina,” the statement said.

Anti-dumping tariffs, authorized by the World Trade Organization (WTO), are surcharges on products sold below cost price. Such measures aim to protect domestic industries from unfair competition posed by imported products.

Source: Agência Brasil

Click here to read the original news report: https://agenciabrasil.ebc.com.br/economia/noticia/2024-06/argentina-suspende-sobretaxa-talheres-de-aco-inoxidavel-brasileiros

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