Brazil Plans Tech Tariffs in Retaliation for U.S. Steel Duties
Brazil's government is reportedly considering imposing taxes on American tech companies in response to President Trump's proposed 25% tariff on steel imports.
Brazil is a major supplier of steel to the U.S. and hosts a significant market for tech giants such as Amazon, Facebook, Instagram, and Google.
According to a report by Folha de S.Paulo, the potential Brazilian levies target these tech firms in retaliation for the U.S. tariffs. The report cites an unnamed Brazilian official.
The Brazilian government has yet to comment on the matter, despite multiple requests. Finance ministry officials previously discussed a potential tax on tech companies to address revenue shortfalls in 2024.