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Brazilian president vows protection of steel industry

Brazilian President Michel Temer criticized protectionist measures taken against steel imports, during a speech at the Brazilian Steel Congress on Tuesday in Sao Paulo. Referring to tariffs imposed by the United States on steel imports, Temer urged the steel industry to protect itself from foreign attacks. He said “We have to protect our industry. This is an issue that has been dealt with frequently and has my support. The Brazilian steel sector has shown its resilience during our economic crisis and has shown its strength during this time.” 
Brazil is one of the major producers of steel in the world and ranks 11th in world exports, according to the Brazil Steel Institute. In 2017, the country produced 34.4 million tons of crude steel, a 9.9 percent increase over 2016. The production of Brazilian steel grew 6.7 percent in July compared to the same period last year, according to the Brazil Steel Institute. Sales grew 13 percent in the same period.
Source : XINHUA
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