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Brazil says is confident U.S. steel quota to be lifted in time

BRASILIA/RIO DE JANEIRO (Reuters) – Brazil believes steel import quotas recently imposed upon the nation by the United States will be lifted as market conditions improve, the foreign ministry said in a statement on Saturday. 

Late on Friday, the White House announced that it was re-imposing import quotas on certain Brazilian steel products, as domestic producers deal with a slumping market. 

In Brazil’s Saturday statement, the foreign ministry acknowledged the decision, adding that dialogue over the matter would resume in December. 

“The Brazilian government maintains a strong belief that the recovery of the U.S. steel sector, frank and constructive dialogue regarding the matter – to be taken back up in December – and the exceptional quality of bilateral relations will allow the full re-establishment and even intensification of trade in semi-finished steel,” the ministry said. 

Reporting by Lisandra Paraguassu in Brasilia and Gram Slattery in Rio de Janeiro; Editing by Daniel Wallis

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