Brazil’s government plans to evaluate responses to U.S. tariffs on steel and aluminum, including potential measures at the WTO. The tariffs may harm Brazilian exports valued at $3.2 billion in 2024. Brazilian officials criticized the U.S. decision as unjustified and focus on maintaining dialogue with the Trump administration.
The Brazilian government announced on Wednesday that it would explore various measures to respond to the newly imposed U.S. tariffs on steel and aluminum. This assessment will include potential actions at the World Trade Organization, aimed at mitigating the negative impacts of these tariffs on Brazil’s national interests.
The increased tariffs, instituted by U.S. President Donald Trump, became effective on the same day and aim to restructure global trade to benefit the United States. Brazilian officials highlighted that these tariffs could substantially affect the country’s steel and aluminum exports, valued around $3.2 billion in 2024, according to a joint statement from Brazil’s Foreign Ministry and the Ministry of Development, Industry and Foreign Trade.
Brazil characterized the U.S. decision as an “unjustified and mistaken” action, particularly in light of the historical cooperation and economic alliances between the two nations. Currently, Brazil ranks as the third-largest importer of U.S. steelmaking coal and as the foremost exporter of semi-finished steel to the United States.
Additionally, the U.S. has consistently maintained a trade surplus with Brazil, amounting to approximately $7 billion in goods for the year 2024. In light of the situation, President Luiz Inacio Lula da Silva has directed his economic team to engage in discussions with the Trump administration. Finance Minister Fernando Haddad confirmed this during a press briefing following a meeting with local steel industry representatives in Brasilia.
Minister Haddad relayed President Lula’s message to remain composed, recalling that previous negotiations occurred under even more challenging conditions than those currently faced.
In conclusion, the Brazilian government is poised to explore various responses to the recently imposed U.S. tariffs on steel and aluminum. The measures would be aimed at protecting national interests and may include actions at the WTO. The tariffs are expected to have a detrimental impact on Brazil’s export economy, as officials express concerns regarding the implications of these trade barriers.
Original Source: news.cgtn.com
