Reported 5 months ago
Latin American nations, including Mexico, Chile, Brazil, and Colombia, are imposing tariffs on Chinese steel imports following the footsteps of the US and Europe, despite a historically close relationship with China. These tariffs, prompted by a surge in Chinese steel exports to Latin America worth $8.5 billion annually, aim to protect local steel producers facing potential job losses and business closures. The move signifies a shift towards protectionism in response to the flood of Chinese imports and challenges the economic partnership between Latin America and China, with countries like Brazil implementing measures to prevent predatory pricing of imported steel.
Source: YAHOO