INSUBCONTINENT EXCLUSIVE:
Colombia has taken decisive action to protect its steel industry by raising tariffs on imports from countries without trade agreements,
particularly China.The government recently issued a decree increasing the tariff on wire rod imports to 35%, the maximum allowed under World
Trade Organization rules.This move responds to concerns from local steel producers about cheap imports threatening domestic jobs and
industry viability.Colombian manufacturers report that Chinese steel shipments are priced up to 42% below market rates, creating unfair
competition.The new tariff, up from the previous 5%, will remain in effect for two years
It applies to countries without free trade agreements with Colombia, including China and Russia.Colombia Boosts Steel Tariffs to Shield
Domestic Industry fm Chinese Imports
American countries that have taken similar measures
Brazilian, Mexican, and Chilean governments have also raised tariffs on Chinese steel imports recently.Colombian steel producers argue that
the tariff increase is necessary to protect local jobs and ensure high-quality domestic steel availability.The industry employs thousands of
workers and supports numerous indirect jobs in the supply chain
The Colombian Chamber of Construction has previously opposed steel import tariff increases.They argue that reduced imports could lead to
higher prices and shortages in the housing sector
The steel industry counters that the impact on housing costs would be minimal, estimating a price increase of less than 1% for new homes.The
This package also includes import quotas for steel from Andean Community countries.It reflects a growing trend of trade protectionism in the
region as countries balance free trade principles with domestic industry protection.
