US will negotiate exemption on Brazilian steel imports, Temer says

published: Mar 21, 2018 04:28 PM, last modified: Mar 21, 2018 04:28 PM

Brazilian president explained tariff increase will not come into effect while talks are in progress

Marcos Corrêa/PR

President Michel Temer reported during a meeting of the Economic and Social Development Council (CDES) on Wednesday (21 March) that the United States government has designated Brazil as one of the first countries with which it will negotiate an exemption in the recently-announced tariffs on steel and aluminium imports.

“Brazil is one of the countries with which they will start negotiations for a possible exception on the raised import tariffs for steel and aluminium," the president told the audience of government officials and businesspeople. Earlier this month, the United States announced the creation of a 25% tariff on steel imports and a 15% tariff on imported aluminium.

According to Temer, the new rates announced by the US government will not apply to the Brazilian industry while negotiations are ongoing. Brazil is one of the leading exporters of steel to the US.