Brazilian steelmaker Gerdau soars on Trump's new tariffs

ReutersJun 2, 2025 1:52 PM

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Shares in Brazilian steelmaker Gerdau GGBR4.SA rise more than 6%

Analysts at BTG Pactual link the share move to U.S. President Donald Trump saying he would double tariffs on imports of steel and aluminum to 50%

"We see Gerdau as the key beneficiary in Latin America, with its North American business (60% EBITDA exposure) set to expand profitability and help offset ongoing weakness in Brazil," they say in a note to clients

Gerdau is the biggest gainer on Brazil's benchmark stock index Bovespa .BVSP, which is up 0.4%

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