Shares of Brazil's Gerdau rise after Trump's steel tariff plans
ReutersFeb 10, 2025 1:37 PM
SAO PAULO, Feb 10 (Reuters) - Shares in Brazilian steelmaker Gerdau GGBR4.SA rose more than 3% on Monday after U.S. President Donald Trump said he planned to announce 25% tariffs on all steel and aluminum imports into the United States.
Gerdau has units in the U.S. and had previously touted its substantial operations in the country as a hedge against the risk of protectionism from Trump.
Peer CSN CSNA3.SA, which has more exposure to the Brazilian market, was trading down 0.5%. The South American country is one of the largest sources of U.S. steel imports.
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