US won’t talk steel tariffs with Brazil until ethanol import tariffs is on the table

In Brazil, Reuters reports that the US won’t start talking about the recently announced import tariffs on steel until Brazil starts talking about rethinking its stance on ethanol import tariffs. Negotiations between the two countries that includes other issues such as Open Skies and supporting Brazil’s request to join the OECD are also on the table, talks that should be concluded next week. Although the tariff has been a sticking point on trade talks, US ethanol prices are so low at the moment that exports have soared despite the 20% import tariff.