Following US President Donald Trump's announcement of a new tariff 50% on Brazilian products, which will take effect on August 1st, the Brazilian steel industry is concerned about its future in steel exports.
The Brazilian Association of the Steel Processing Industry and the National Union of the Ferrous Metal Drawing and Rolling Industry have seen a decline in export volumes since April, when the initial 10% tariff was implemented; the challenges worsen if it increases to 50%.
Therefore, Ricardo Martins, president of the association, urges the Brazilian government to strengthen the role of diplomacy and multilateral mechanisms such as the World Trade Organization (WTO), so that the country can find solutions that preserve the competitiveness of the national industry.
