Metals dip as US to restore tariffs on imports from Brazil, Argentina

Metal stocks such as Jindal Steel, Tata Steel, NMDC, and Vedanta declined in the early mornig trade on the NSE on Tuesday after US President Donald Trump “restored” tariffs on all steel and aluminium products imported from Brazil and Argentina. Individually, NMDC shed 2.7%, followed by Jindal Steel (2.4%), Steel Authority of India Ltd (2.2%), Tata Steel (2.19%), and Vedanta (2%).

Trump to hit Brazil and Argentina with steel and aluminium tariffs

Donald Trump is to reimpose tariffs on imports of steel and aluminium from Brazil and Argentina after accusing the countries of a “massive devaluation” of their currencies that hurt US farmers. Mr Trump originally announced the 25 per cent metals tariffs on national security grounds last year, but then exempted some US allies following lobbying from free-trade advocates on Capitol Hill.

Mercosur: Germany wants to certification for meat and soya imports from Brazil

According to Der Spiegel magazine, German Environment Minister Svenja Schulze is proposing to complement the sustainability rules of the Mercosur Free Trade Agreement between the European Union and the Latin American countries with a certification system for both products. The country wants to avoid buying soy and meat whose production has affected the environment in the Amazon.