SAO PAULO, Feb. 11 (Xinhua) -- The Brazilian Federation of Industries of the state of Sao Paulo (FIESP), the largest association of manufacturers in South America, on Tuesday rejected the U.S. decision to impose 25-percent tariffs on all imported steel and aluminum.

Noting that Brazil is far from being a commercial threat to the United States, the FIESP said in a statement that in the past two decades, the United States registered trade surpluses with Brazil on 16 occasions.

Economic cooperation between Brasilia and Washington should be enough to guarantee a solution that is beneficial to both countries, the group added.

The United States is Brazil's largest market for steel and its third-largest destination for aluminum exports. The recent tariff hikes announced by President Donald Trump are expected to have a direct and significant impact on Brazilian exporters. According to the group, Brazil accounted for 15 percent of the total value of U.S. steel imports in 2024, making it particularly vulnerable to these changes. Enditem

Related

Go to Forum >>0 Comment(s)