Brazil's main steel industry body said on Monday that it was "perplexed" by U.S. President Trump's decision to restore tariffs on Brazilian steel and aluminum, calling the move "retaliation" and saying that the Brazilian government was not artificially devaluing its real currency.
In a statement, the body, known as Instituto Aco Brasil, said the decision ultimately hurts U.S. steelmakers who are dependent on Brazilian steel components for their operations.