Brazil to extend tariff-free ethanol import program with US

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The tariff-free ethanol import program with the US will be extended by Brazil for 90 days starting September 14, the foreign ministry said in a statement.

During that time, both countries will discuss ways in which they can open up their respective soy, corn and ethanol markets.

It should be noted here that the South American nation allowed a non-tariff quota for imports of around 750 million liters per year of ethanol to expire at the end of August, resulting in American producers having to pay a 20% tariff.