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Brazil seeks negotiation over US steel tariffs instead of retaliation
Issued at 2025-02-17
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Brazilian steel traders expect the government to negotiate with the US over new tariffs on steel exports, including slabs, rather than take retaliatory measures.
The US steel industry relies on Brazilian slabs and pig iron for production, while Brazil depends on the US as its largest export market. Industry insiders warn that if no concessions are made, American consumers will bear the cost, as imports will continue with higher prices.
The US steel industry relies on Brazilian slabs and pig iron for production, while Brazil depends on the US as its largest export market. Industry insiders warn that if no concessions are made, American consumers will bear the cost, as imports will continue with higher prices.
Brazilian officials are carefully assessing the potential impact before responding to the tariff decision. Brazil may also reconsider its domestic steel demand and explore alternative markets such as Europe and Mexico. Despite tensions, industry leaders stress that cooperation remains crucial for both countries.
Source: yieh.com
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