International news within the industry of mining and metal, Apr, 23 2018
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Brazil has the most to lose on the increased steel tariffs

Steelworks of the Companhia Siderúrgica Nacional, in the Center of the city of Volta Redonda, Rio de Janeiro, Brazil. Photo: Wikipedia: kredit: HenriqueBarraMansa
Steelworks of the Companhia Siderúrgica Nacional, in the Center of the city of Volta Redonda, Rio de Janeiro, Brazil. Photo: Wikipedia: kredit: HenriqueBarraMansa
Published by
Markku Björkman - 16 Mar 2018

The US decision to impose tariffs on imports of steel and aluminum has taken all the steel-exporting countries in the world by storm, but the country most affected by steel tariffs is Brazil, according to the industrial site L'Usine Nouvelle.

Brazil exports 5.7 tonnes of steel a year to the United States, equivalent to one-third of the country's steel production and three billion dollars in revenue. By comparison, the whole EU exports steel to the US for five billion dollars a year.

According to the Brazilian newspaper G1, Brazilian authorities are contending. The country imports carbon for one billion dollars a year from the United States, and a countermeasure could be to reduce coal imports until the country's appeal of steel and aluminum tariffs in the WTO is successful.

Source: LÚsine Nouvelle & G1