Key Takeaways
- Brazil’s government has called the U.S. tariff hikes on steel and aluminum ‘unjustified and mistaken’.
- The U.S. decision will significantly impact Brazilian steel and aluminium exports, which totalled around 3.2 billion U.S. dollars in 2024.
- Brazil will explore all possible trade responses to counteract the harmful effects of the U.S. measures and protect its legitimate national interests.
Brasilia: Brazil’s government on Wednesday called the U.S. decision to increase tariffs on steel and aluminium imports to 25 percent an “unjustified and mistaken” move.
“These measures will significantly impact Brazilian steel and aluminium exports to the United States, which totalled around 3.2 billion U.S. dollars in 2024,” Brazil’s Foreign Ministry and the Ministry of Development, Industry, and Foreign Trade said in a joint statement.
Officials called the decision unjustified given the “historic cooperation and economic integration between the two nations,” noting that Brazil is the third-largest importer of U.S. steelmaking coal and the largest exporter of semifinished steel to the United States.
The United States maintains a long-standing trade surplus with Brazil, which in 2024 amounted to roughly 7 billion dollars in goods alone, the government added.
Officials said Brazil will explore all possible trade responses in the coming weeks, aiming “to counteract the harmful effects of the U.S. measures and protect legitimate national interests.”
