×

Brazil may cut 2018 trade surplus estimate if U.S. tariffs kept

BRASILIA, April 2 (Reuters) - The Brazilian government may cut its forecast for a 2018 trade surplus of around $50 billion if it does not manage to negotiate its way out of U.S. tariffs on steel imports, the secretary for foreign trade said on Monday.

In a news conference, secretary Abrão Neto said it is too early to assess the impact of China's retaliatory tariff hikes, announced on Sunday. An escalation of trade tensions between the world's two largest economies could be very damaging to global economic growth, he said. (Reporting by Bruno Federowski and Mateus Maia Editing by Chizu Nomiyama)