Haddad denies that government will tax companies if Trump adopts tariffs on steel

(Reuters)-Finance Minister Fernando Haddad denied on Monday that the Brazilian government is evaluating US digital platforms if US President Donald Trump officializes the announcement of raising steel and aluminum tariffs, After the information was reported by the newspaper Folha de S.Paulo.

Trump said on Sunday that he will introduce new 25% rates on all steel and aluminum imports to the US, in another large climb of his country’s commercial policy reform. Brazil is one of the main steel suppliers for the US.

“In order not to leave doubt, it is not correct to information that the Lula government must tax technology companies if the US government imposes tariffs to Brazil,” the minister said in the X.

According to him, the Brazilian government has made the decision to manifest itself “based on concrete decisions, not ads that can be misunderstood or reviewed.”

“We will wait for the president’s guidance,” he added.

According to Folha’s columnist Monica Bergamo, the Lula government cautiously awaits the realization of Trump’s announcement and understands that it is best not to open an open trade war against the US.

The adoption of rates on platforms has been discussed for several months in Brazil. In September, the Ministry of Finance stated that it could refer to Congress in the second semester proposals for the taxation of the Big Techs if there was any frustration of budget revenues.

According to Folha, the assessment is that the measure could be implemented almost immediately if Trump accelerates its world trade war and reaches Brazil.

Sought by Reuters, the Planalto Palace said it will not comment on the issue for now. The Ministries of Finance, Foreign Affairs and Development, Industry, Commerce and Services did not immediately respond to comments requests.