Brazil's Energy and Mining Minister Alexandre Silveira said on Thursday that a potential U.S. tariff on Brazilian ethanol would be unreasonable, emphasizing that the two countries have historically negotiated ethanol and sugar trade together.

Shares of U.S. biofuel suppliers rose as President Trump targeted Brazilian tariffs on U.S. ethanol exports in signing measure to propose new tariffs on a country-by-country basis.

Brazils Energy and Mining Minister Alexandre Silveira has slammed the U.S. decision to raise ethanol tariffs, calling it unreasonable and unfair. His statement follows U.S. President Donald Trumps move to end