Lula and Gerdau expand steel industry on the eve of Trump's tariffs on the sector taking effect.
The U.S. government plans to impose a 25% tariff on steel and aluminum imports.
247 - President Luiz Inácio Lula da Silva (PT) participated, this Tuesday (11), in the ceremony for the expansion of Brazilian steel production, at the Gerdau unit, in Ouro Branco (MG).
With an investment of R$ 1,5 billion, the company is expanding its hot-rolled coil production capacity. The new structure will allow for an increase of 250 tons in hot-rolled coil production, reaching 1,1 million tons per year by 2025.
The expansion, in turn, occurs on the eve of the entry into force of new US tariffs on the sector. The US government plans to apply a 25% tariff on steel and aluminum imports into the country starting Wednesday (12), which should directly impact Brazil and other exporting countries.
