May 2, 2018 / 2:21 PM / 6 months ago

U.S. halts talks with Brazil, slaps import tariffs, quotas -Brazil gov't

BRASILIA, May 2 (Reuters) - The U.S. government called off negotiations with Brazil on tariffs over U.S. protectionist measures and reinstated tariffs and quotas on imports of Brazilian steel and aluminum, according to a statement by the Brazilian government on Wednesday.

The United States had announced on April 30 that it had reached a preliminary agreement with Brazil. But negotiators had broken off talks on April 26, giving the Brazilian industry the choice of picking between tariffs or quotas, the statement said.

Brazil’s aluminum industry opted for 10 percent import tariffs, while the steel industry opted for an imports quota system, according to the statement issued jointly by the Foreign and Trade Ministries. (Reporting by Bruno Federowski Editing by Chizu Nomiyama)

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