Lula Condemns US Steel Tariffs: Brazil Vows Retaliation

Brazil's Lula Condemns US Steel Tariffs, Threatens Retaliation Brazil's President Luiz Inacio Lula da Silva has strongly criticized the United States' decision to raise import tariffs on steel, vowing that his country will not stand idly by. The increased tariffs, which took effect on March 12th, have raised the tariff on steel from 25% to 50%. This impacts millions of tons of steel and aluminum imports from countries like Brazil, Canada, Mexico, and South Korea, all of whom previously enjoyed tariff exemptions. "We will not remain silent in the face of this unfair action by the United States," Lula declared in a press conference. He further warned, "If negotiations do not yield results, we will take retaliatory action." Lula's statement reflects Brazil's determination to defend its steel industry and challenge what it considers an unjust trade policy. The Brazilian government is exploring two main options: seeking resolution through the World Trade Organization (WTO) or imposing reciprocal tariffs on US products imported into Brazil. The situation underscores the ongoing tensions in global trade relations and the potential for escalating trade disputes.