In an interview with CNN, the president of the Brazilian Steel Institute Marco Polo Lopes suggests no retaliatory stance against the US after the imposition of a 25% tariff on all steel and aluminum imports.

The president declared that any retaliatory move, a more aggressive stance by the Brazilian government, does not help. On the contrary, he stressed the importance of establishing direct negotiations between the two governments to reestablish the quota agreement.

According to the president, the quota agreement is beneficial for both the Brazilian and American steel industries. In 2018, Brazil and the US agreed on an annual quota of 3.5 million tons for semi-finished steel products shipped from Brazil to the US.