Brazil Criticizes New U.S. Steel, Aluminum Tax

Finance Minister, Henrique Meirelles, says protectionist tariffs have been used in Brazil in the past and did not help the country's industry.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazil’s Finance Minister criticized on Tuesday the decision by U.S. President Donald Trump to raise import tariffs on steel and aluminum. According to Minister Henrique Meirelles the measure could harm not only the world but U.S. industry as well.

"Investors generally find trade warfare very negative; it is negative for everyone involved and, of course, we are against it and will make that position clear," Meirelles told reporters in New York, where he is trying to woo foreign investors to invest in Brazil.

According to Meirelles, ‘Brazil . . .

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