According to a Reuters report, during a meeting between the US and Brazil ahead of the Summit of the Americas in Lima, Peru, the US government has proposed a quota for tariff-free steel imports from Brazil.
Reuters stated that two Brazilian officials who participated in the meeting said that the quotas would be calculated based on Brazil’s current amount of steel exports to the US.
Last month, the US exempted Brazil from the Section 232 tariffs until the end of the current month as negotiations continue.