In a bold move, Brazil is set to explore all possible measures to counteract the harmful effects of the new U.S. tariffs on steel and aluminum. The Brazilian government announced that in the coming weeks, it will assess options – including action at the World Trade Organization – to protect its legitimate national interests.
The U.S. has ramped up its trade strategy with increased tariffs, a decision spearheaded by U.S. President Donald Trump. These tariffs are expected to impact Brazilian steel and aluminum exports significantly, which amounted to roughly $3.2 billion in 2024.
Labeling the U.S. move as an "unjustified and mistaken" decision, Brazil highlighted the historic cooperation and economic integration between the two nations. After all, Brazil is not only the third-largest importer of U.S. steelmaking coal but also the largest exporter of semi-finished steel to the U.S., adding extra weight to this trade friction. Moreover, the U.S. enjoys a long-standing trade surplus with Brazil, reaching about $7 billion in goods in 2024.
In response, President Luiz Inacio Lula da Silva has tasked his economic team with initiating dialogue with U.S. authorities. Finance Minister Fernando Haddad reassured local industries that there's no need to panic, recalling past negotiations that occurred under even tougher conditions. It’s a classic underdog story – staying cool under pressure and ready to fight back! 🚀🔥
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Brazil says it will consider all measures against U.S. tariffs
cgtn.com
