Brazil has officially notified the World Trade Organization (WTO) it will suspend export benefits for the European Union (EU). The notice follows an EU decision to impose a steel tariff quota for exceeding exports of certain steel products from several countries, including Brazil.
Brazil told the WTO it intends to suspend export benefits for the EU for 30 days, although the affected European products were not specified. According to the Brazilian government, the EU questioned Brazil’s intentions to suspend export benefits for 30 days, and Brazil argued that the decision, which has not yet been applied, is in line with multi-lateral trade rules, particularly the WTO safeguarding agreement.