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Colombia's proposal to increase tariffs on steel imports sparks debate

A proposal to increase steel import tariffs in Colombia from 5% to 20-25% has sparked controversy among different sectors of the industry.

Colombia's proposal to increase tariffs on steel imports sparks debate

National Business Association of Colombia (ANDI) argues that the increase will prevent cheaper steel, especially from countries such as China and Russia, from distorting the local market. The committee argues that the current situation harms local producers and creates unfair competition.

On the other hand, the Colombian Chamber of Construction (Camacol) opposes the proposal, arguing that the tariff increase could lead to higher prices and material shortages in the construction industry. Camacol states that the proposed tariff increases would only affect housing costs by 0.38%, but the increase in production costs could harm the competitiveness of the industry.

In 2023, Colombia's steel production amounted to 1.47 million tons, despite having a total capacity of 2.6 million tons. This was 45,000 tons less than the previous year, indicating that production capacity was not fully utilized and that there was a decline in output.

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