President Trump has decided not to reimpose 25 percent tariffs on steel and 10 percent tariffs on aluminum imported into the U.S. from Brazil following discussions with Brazilian President Jair Bolsonaro.
On Dec. 2, Trump announced the tariff hike on steel and aluminum from both Brazil and Argentina, but a formal proclamation to officially implement the tariffs was never issued. It is unclear whether the president still intends to impose tariffs on steel and aluminum from Argentina.
At issue was a contention that the two nations were unfairly devaluing their currencies, making U.S. exports to those countries more expensive.
The metal tariffs apply to processed raw materials (steel/aluminum plate, sheets, bars, etc.) but not finished products (e.g., wheels, exhausts, etc.).
Australia and South Korea have been exempted from the steel tariffs based on trade quotas, and Mexico and Canada were exempted in May 2019 from both metal tariffs as part of the new U.S./Mexico/Canada trade pact.