Brazilian miners warn: retaliatory tariffs against the U.S. could lead to a loss of $1 billion.

[Brazilian miners warn: US retaliatory tariffs could lead to $1 billion loss] The Brazilian mining industry warns that if the government takes equivalent tariff measures in retaliation for President Trump’s threat to impose a 50% tariff starting August 1, it will result in severe economic consequences. Raul Jungmann, head of the Brazilian Mining Association (Ibram), stated that if Trump follows through on his threats and Brazil takes such countermeasures, the mining sector could face up to an additional $1 billion in costs annually. Brazilian mining executives are considering initiating dialogue with American companies to encourage the Trump administration to return to the negotiating table.