U.S. Reimposes Section 232 Steel and Aluminum Tariffs on Imports from Brazil and Argentina

On December 2, 2019, President Trump announced that the U.S. would reassess Section 232 tariffs on all steel and aluminum imports from Brazil and Argentina.
In May 2018, Brazil and Argentina were exempted from the additional Section 232 tariffs on steel and aluminum products after both countries agreed to be subject to absolute import quotas. President Trump said in his announcement that he would reimpose the tariffs, effective immediately, because both nations have been “presiding over a massive devaluation of their currencies, which is not good for our farmers.”
However, no formal proclamation from either the White House or the Department of Commerce has been issued to date.
Importers interested in evaluating the duty impact of this change and exploring strategic responses to mitigate the duty exposure, please contact a BDO Customs and International Trade Services professional.