Brazil steelmaker Gerdau rethinks Mexico mill after Trump tariffs
Brazilian steelmaker Gerdau may opt to bump up its output capacity in the United States instead of building a new plant in Mexico, its CEO said on Thursday, as tariffs implemented by President Donald Trump shake up global trade. Gerdau announced last year it was considering installing a new special steel mill in Mexico, which would have an annual capacity of some 600,000 metric tons and require investment of $500 million to $600 million. Gerdau initially expected to reach a final investment decision by the end of 2024 to start building the plant this year, but it has now postponed the decision until July.