Brazil’s Steel Industry Stunned by Trump’s Announcement of Increased Tariffs

Officials say claims that Brazil's government is artificially devaluing the Real are false, and the measure is retaliation for Brazil increasing soybean exports to China.

SÃO PAULO, BRAZIL – The Brazilian government was taken by surprise on Monday morning, after US President Donald Trump announced he was restoring tariffs on steel and aluminum exports coming from the South American country.

“Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I will restore the tariffs on all steel & aluminum that is shipped into the U.S. from those countries,” said Trump

Taken aback after repeatedly stating that he had a ‘close’ relationship with Trump, Brazilian President, Jair Bolsonaro, told reporters that . . .

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