Wednesday, 12 August 2020

Costa Rica to seek bilateral US steel tariff deal

Costa Rica’s government plans to seek a bilateral agreement with the US on steel shipments following last week’s announcement of a 25% tariff on all US steel imports, according to the country’s Ministry of Foreign Trade.

“Costa Rica has been clear in arguing that the exports of these [steel] products from our country do not constitute a threat to the national security of the United States,” it said late Wednesday.

According to the ministry, the government is analyzing in detail the measure in order to defend Costa Rica’s interests, but continuing to promote activities within the US.

- paying the bills -

“The administration prioritizes a bilateral approach while monitoring the evolution of the issue at the World Trade Organization,” it said.

Trade minister Alexander Mora said the country will continue to work with the US to find a satisfactory solution, “in keeping with the spirit of cooperation and trust that has characterized trade relations between the two countries and the broad mutual assistance on issues of national and regional security.”

Costa Rica’s sole steel producer is a rolling unit of ArcelorMittal that processes billets and produces up to 280,000 mt/year of bar and rebar and 50,000 mt/year of wire rod.

The US will implement a 25% tariff on imports of steel and a 10% tariff on imports of aluminum starting March 23.

Canada and Mexico will be excluded from the initial tariffs. The proclamations signed by President Donald Trump on March 8 allow other countries to request an exemption, a senior administration official said in a media briefing ahead of the signing.

- paying the bills -

Following a nine-month investigation into the effect of steel imports on national security, the Department of Commerce delivered its Section 232 report and recommendations to Trump on January 11.

A global tariff of at least 24% on all steel imports from all countries was one of three recommendations presented by Commerce in its report. However, the administration decided to impose a tariff of 25% on steel based on additional data and analysis by Commerce following delivery of the initial report, the administration official said.

Source: Platts

Q Costa Rica
Q Costa Rica
Reports by QCR staff

Related Articles

U.S. Beef and Pork With No Duty to Costa Rica

As part of the Tratado de Libre Comercio (TLC) - Free...

U.S. renews tariff threat on Brazil and Argentina

(From CNN) U.S. President Donald Trump announced Monday that the US...


Renowned Costa Rican doctor accused in the U.S. for selling drugs on the “darknet”

(QCOSTARICA) The United States Department of Justice accused a Costa Rican pharmacist and merchant of allegedly shipping restricted-use narcotics such as morphine, alprazolam and...

Coronavirus digest: Global cases top 20 million

The number of coronavirus infections in the world has surpassed 20 million, according to Johns Hopkins University data. The US, India and Brazil together...

A challenging 12 days ahead drivewise in Costa Rica

Rico's DIGEST - In a few days, on Monday, August 10, most of the Greater Metropolitan Area (GAM) and the Panama border areas of...

Water accidents left six dead in 24 hours

(QCOSTARICA) The Judicial Police (OIJ) confirmed that in two days six people drowned in the Pacific Ocean. The first in Quepos, and the remaining...

COVID-19 Costa Rica: 586 new cases and 9 deaths in 24 hours;CCSS expands Intensive Care capacity in hospitals

(QCOSTARICA) The total number of deaths from COVID-19 reached 244 on August 10, with nine deaths in the last 24 hours, the Ministry of...

Costa Rica President signs Law Against Street Sexual Harassment

(QCOSTARICA) In the coming days, the criminal courts in Costa Rica will be able to impose fines and prison sentences for street sexual harassment...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.