Brazil has announced that it will not engage in a trade war with the United States following the imposition of tariffs on steel and aluminum imports by US President Donald Trump. According to Source Brasil, Brazilian Institutional Relations Minister Alexandre Padilha stated that the government has not discussed the possibility of entering a trade war. President Luiz Inácio Lula da Silva has consistently emphasized that a trade war would not be beneficial for any party involved.
Padilha highlighted Brazil's preference for strengthening trade relationships with its partners rather than resorting to trade conflicts. Brazil currently stands as the second-largest exporter of steel to the US, trailing only behind Canada as per the US Department of Commerce.
Meanwhile, Canadian Prime Minister Justin Trudeau expressed his disapproval of the tariffs imposed by the US, labeling them as 'entirely unjustified.' Trudeau emphasized the close economic ties between the US and Canada, noting that Canadian steel and aluminum play a crucial role in various American industries such as defense, shipbuilding, manufacturing, energy, and automotive sectors.
Trudeau pledged to collaborate with the Trump administration to address the negative impacts of the tariffs on citizens of both countries. He also warned that Canada's response would be 'firm and clear' if necessary.
