US has launched what is expected to be complex negotiations with the Brazil for a trade agreement, as the countries aim to forge closer ties. Marcos Troyjo, US’s deputy economy minister for foreign trade, said the government is considering renewing a zero-tariff annual quota for 600,000 mt of ethanol, the majority of which has been supplied by the Brazil, and creating a tariff-free import quota for 750,000 mt of Brazil wheat. South America’s Mercosur customs union, to which US belongs, recently reached an in-principle trade deal with the EU.
Brazil has launched what is expected to be complex negotiations with the US for a trade agreement, as the countries aim to forge closer ties. Marcos Troyjo, Brazil’s deputy economy minister for foreign trade, said the government is considering renewing a zero-tariff annual quota for 600,000 mt of ethanol, the majority of which has been supplied by the US, and creating a tariff-free import quota for 750,000 mt of US wheat. South America’s Mercosur customs union, to which Brazil belongs, recently reached an in-principle trade deal with the EU.