The U.S. government announced a reduction in the quota for Brazil’s semi-finished steel exports. The measure maintains the tariff exemption on intra-quota bilateral trade of the product, similar to what occurred in 2019 as a result of contact between Presidents Jair Bolsonaro and Donald Trump.
The Brazilian government maintains a strong expectation that the recovery of the U.S. steel sector, the frank and constructive dialogue on the matter, to be resumed next December, and the exceptional quality of bilateral relations will allow for the full restoration and even an increase in the levels of semi-finished steel trade. This perspective aligns with the current joint efforts for even greater integration of the economies of both countries.
Source: Ministry of Foreign Affairs and Economy