Brazil playing hardball with sugar-for-ethanol quota swap

In Brazil, Reuters reports that US ethanol exporters will likely have to begin paying 20% duty on all ethanol going to Brazil as the country is expected to not renew the tariffs set to expire on August 31. The Trump Administration has sought to keep the tariffs in place at the behest of the US ethanol industry while the Brazilian president is under pressure from his own ethanol industry who want the tariff extension to be tied to increased sugar market access.