Trump Revives Steel Tariffs Against Brazil, Argentina

The US President announced the restoration of tariffs on steel and aluminum imports from Brazil and Argentina due to their currency devaluation, impacting US farmers. Julia Lecce from Bloomberg discusses the surprise reaction in Brazil, where President Bolsonaro plans to consult with his Economy Minister and possibly the US President. Despite the initial shock, Brazilian markets and currency are stabilizing.

What economic issue in Brazil and Argentina prompted the U.S. President to restore tariffs?

• High inflation rates

• Devaluation of currencies

• Increase in exports

• Trade surplus

What was the immediate reaction of the Brazilian President to the U.S. tariff announcement?

• He resigned from his position

• He announced a trade agreement with another country

• He imposed counter-tariffs on U.S. goods

• He expressed surprise and planned to consult with the Economy Minister

How did the Brazilian markets initially react to the U.S. tariff announcement?

• They experienced a significant downturn

• They remained stable with no change

• They showed a mixed reaction with some recovery

• They surged to new highs

What is the approximate value of steel exports from Brazil to the U.S.?

• $500 million

• $1 billion

• $2 billion

• $3 billion

What was the overall market sentiment in Brazil following the tariff announcement?

• Highly negative with panic selling

• Neutral with ongoing assessment

• Extremely positive with increased investments

• Indifferent with no significant changes