Brazilian Steelmaker Usiminas Flags Risks From Surging Imports, US Tariffs

Brazilian steelmaker Usiminas expressed concern that US President Donald Trump’s threatened 50% levy on the Latin American country will add more risks for its exporting customers.

While the company’s direct shipments to the US are not significant, “the impact on Brazil’s industrial supply chain, and particularly on our exporting clients,” raises concerns, Usiminas said Friday its quarterly earnings release. Tariffs will add to the deteriorating competitiveness in Brazil’s flat steel market, the company said.