March 20, 2018 / 9:01 PM / 2 years ago

Mnuchin says U.S. won't start a trade war: Brazil's Meirelles

U.S. Treasury Secretary Steven Mnuchin (R) and Brazil's Finance Minister Henrique Meirelles pose for the official photo at the G20 Meeting of Finance Ministers in Buenos Aires, Argentina, March 19, 2018. REUTERS/Marcos Brindicci

BUENOS AIRES (Reuters) - Brazilian Finance Minister Henrique Meirelles said on Tuesday that U.S. Treasury Secretary Steven Mnuchin listened to Brazil’s qualms about planned steel tariffs and would relay them to the U.S. Commerce Department.

Meirelles, speaking at a news conference, said he told Mnuchin the tariffs would be “counterproductive” because they would hurt U.S. companies that import Brazilian semi-finished steel products and Brazil will seek an exception. “Mnuchin said the U.S. does not plan to “declare a trade war,’” Meirelles said.

Reporting by Anthony Boadle; Editing by Leslie Adler; Editing by Leslie Adler

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