Most of the Brazilian financial market sees the Trump administration as a threat to the national economy, according to a Quaest survey.
A survey shows that 66% of analysts and managers in Brazil predict a negative impact, while only 9% foresee positive effects.
247 - A recent survey by Quaest, released this Wednesday (19), reveals that 66% of analysts and investment fund managers in Brazil believe that the government of Donald Trump will have a negative impact on the Brazilian economy, while only 9% see possible positive effects.
Concerns increased after the implementation, on March 12, of 25% tariffs on all steel and aluminum imports by the United States, directly affecting countries such as Canada, Mexico, and Brazil, the second-largest steel supplier to the US market.
Quaest's research also indicates that 74% of respondents believe Brazil should not retaliate against the US for the steel and aluminum tariffs, while 17% advocate a firmer response. This cautious stance reflects a concern about avoiding an escalation of trade tensions that could further harm the Brazilian economy.
Impact on Brazilian exports
In 2024, Brazil exported approximately 4,1 million tons of steel to the US, representing 14,9% of US imports of this product. With the new tariffs, a reduction in these exports is expected, putting pressure on the national steel sector to seek new markets or reduce production.
Responses and strategies of the Brazilian government
The Brazilian government considered the measure "unjustifiable and misguided" and has not ruled out taking the matter to the World Trade Organization (WTO) to challenge the imposed tariffs. However, Brazilian authorities have emphasized the importance of dialogue and avoided retaliatory measures that could trigger a trade war. The Minister of Institutional Relations, Alexandre Padilha, stated that "Brazil does not encourage and will not enter into any trade war."
