The South American powerhouse is the second-largest exporter of steel to the United States after Canada, shipping four million tonnes of the metal in 2024.
But after the policy came into effect on March 12, the Brazilian finance minister said Lula had decided not to retaliate and instead called for “calm”.
“We are going to take the approach that we think will be good for Brazil,“ he said.
“We cannot stand still believing that only they are right and that only they can tax other products.”
Lula has portrayed such an agreement as a way for the two economies to boost trade in the face of growing protectionism under Trump.
On Thursday, Lula also reacted to Brazil’s Supreme Court ordering far-right former president Jair Bolsonaro to stand trial on charges of plotting a coup.
“He has no way of proving that he is innocent,“ Lula said. “Everyone knows what he did.”
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