Reuters, citing two Brazilian officials who participated in a US-Brazil meeting, reported that US government has proposed a quota for tariff-free imports of Brazilian steel, offering to soften trade barriers after tough talk last month. They said “The quotas would be calculated based on the current amount of steel exports to the United States.”
The US proposal is the latest step in Brazil’s efforts to negotiate its way out of newly introduced tariffs on steel and aluminum imports to the United States, part of a protectionist push by US President Donald Trump.
The US government agreed to exempt Brazil from the tariffs until at least the end of this month as negotiations advance.
US Trade Secretary Wilbur Ross and Brazilian Foreign Minister Aloysio Nunes discussed the matter on Thursday during the Summit of the Americas in Lima, Peru, the sources said.
Source : Reuters