Brazil demands compensation from the European Union following the tightening of steel import rules. The Brazilian government said yesterday that it had informed the World Trade Organization (WTO) that it would take countermeasures if necessary. The government in Brasilia remains open to dialogue.
According to a government insider, Brazil demands 180 million euros. Should the EU fail to pay, this could pave the way for Brazil to impose tariffs on European products such as milk powder. On 1 February, the EU introduced restrictions on steel imports from major exporting countries, such as China or Russia, as a backlash to the tariffs of US President Donald Trump.