Brazil's VW, Ford auto plants are importing steel

Newswire

SAO PAULO, Brazil, Aug 17 (Reuters) - The Brazilian units of Volkswagen and Ford Motor Co. are importing steel after the government suspended some import tariffs in response to high domestic steel costs. The local unit of Volkswagen bought 30,000 tonnes of steel from an unrevealed European producer, a sufficient amount to supply the manufacturer for up to two months. "It is incredible that it is cheaper to import steel from Europe, with the high cost of transport," Hans-Christian ...

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