Geraldo Alckmin, the Brazilian Vice President and Minister of Industry and Commerce, who is leading negotiations with the US regarding increased tariffs on steel and aluminum, stated in an interview that despite the imposition of these tariffs, he will focus on negotiations. He noted that higher import tariffs drive up product prices and complicate commercial activities.
"Our initial strategy is dialogue, but we are not excluding the possibility of appealing to the World Trade Organization (WTO)," he said, emphasizing Brazil's support for multilateralism and economic integration, as endorsed by the WTO.
On March 6, Brazil and the US conducted a conference call on this issue, which yielded constructive but inconclusive results. A second conference call is scheduled for Friday, March 14, although it has not yet been confirmed.
In 2024, Brazil exported over 3.4 million metric tons of slabs to the US, along with only 355,000 metric tons of finished steel products, according to the Brazilian foreign trade authority, SECEX.