The Brazilian government plans to assess measures against U.S. tariffs on steel and aluminum, including potential actions at the WTO. It criticizes the tariffs as unjustified and emphasizes the importance of dialogue with the Trump administration amid significant trade impacts.

The Brazilian government announced on Wednesday its intention to evaluate various responses, including actions at the World Trade Organization (WTO), to combat the effects of increased U.S. tariffs on steel and aluminum. These measures aim to safeguard Brazil’s legitimate national interests against what it describes as harmful U.S. measures.

The tariffs, instated by U.S. President Donald Trump, are anticipated to adversely affect Brazilian exports of steel and aluminum, which amounted to approximately $3.2 billion in 2024. Officials from Brazil’s Foreign Ministry and the Ministry of Development, Industry, and Foreign Trade criticized the U.S. decision as “unjustified and mistaken” given the historical trade relationship between the countries.

Brazil ranks as the third-largest importer of U.S. steelmaking coal and is the leading exporter of semi-finished steel to the United States. The U.S. has maintained a significant trade surplus with Brazil, reaching around $7 billion in goods in 2024. President Luiz Inacio Lula da Silva has directed his economic team to pursue dialogue with the Trump administration regarding these tariff measures.

Finance Minister Fernando Haddad conveyed President Lula’s message, stating, “President Lula told us to remain calm, noting that in the past we have negotiated under conditions that were even more unfavorable than the current ones.” This reflects the Brazilian government’s commitment to finding a constructive solution amidst trade tensions.

In summary, Brazil is poised to explore various reactions to the new U.S. tariffs on steel and aluminum, including potential actions at the WTO. The Brazilian government has voiced its concerns regarding the impact of these tariffs on its economy and has highlighted the importance of dialogue with the U.S. administration. Brazil’s trade relationship with the U.S. remains significant, warranting a careful approach to negotiations.

Original Source: news.cgtn.com

Related posts:

Brazil Anticipates Agribusiness Gains Amid China-U.S. Trade Conflict Brazil Considers Reducing Ethanol Import Taxes to Align with U.S. Trade Policies Brazil Contemplates Reducing Ethanol Import Tax to Alleviate Inflation and Strengthen U.S. Relations Brazil Mulls Ethanol Import Tax Reduction to Address Inflation and U.S. Relations