Brazilian President Michel Temer on Wednesday said the U.S. government has temporarily suspended tariff hikes on steel and aluminum from Brazil, pending negotiations. Earlier this month, U.S. President Donald Trump announced tariff hikes for steel and aluminum coming from most nations. The new tariffs will be 25% for steel and 10% for aluminum. Temer said Brazilian officials have been lobbying the U.S. for an exemption, saying Brazilian imports do not harm the U.S. steel industry. The latest contact in the lobbying effort was a meeting earlier this week in Buenos Aires between Brazilian Finance Minister Henrique Meirelles and U.S. Treasury Secretary Steven Mnuchin. Meirelles said, after the meeting, that the U.S. was open to discussions of Brazil ’s appeal on the tariffs. Temer said Wednesday that Brazil will continue to pay tariffs at the old rate, 0.9% for steel and 2% for aluminum, while “new rates are negotiated.” Temer did not offer a timetable on negotiations.
Link to government news agency releaseMore Testimonials