Brazil’s Ministry of Industry launched a series of investigations into allegations of dumping of industrial products from China after the wave of cheap imports affected the country’s economy. writes about this Finance Times.
At least half a dozen inspections have been launched in the past six months, at the request of industry associations, on products ranging from sheet metal to chemicals to tires, the publication says.
Besides Brazil, shipments of Chinese steel to Vietnam, Thailand and other countries have also increased sharply in recent months. The publication stated that developed markets have also begun to take measures against imports from China, the EU controls electric cars from China, and the United States has expressed concerns about car imports from China.
China’s exports increased by 7.1% annually in the January-February period, outpacing the increase in imports. Analysts warn of the risk of escalating trade tensions between China and major economies.
China’s trade with Brazil increased by more than a third at the beginning of 2023, according to Chinese customs data.
The trade dispute poses a challenge for President Lula da Silva, who is trying to improve ties with Beijing and protect national industries. Brazil is unlikely to risk a confrontation with its largest trading partner.
One of the latest cases is the review of steel sheet imports, which increased by almost 85% from July 2022 to June 2023. Imports of chemical phthalic anhydride from China increased by more than 2000% between July 2018 and June 2023. He writes newspaper.
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