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EU discussing steel, chip, plane cooperation with US, trade chief says

DUBAI (Reuters) -The European Commission is discussing with the United States possible cooperation in sectors such as aerospace, steel, semiconductors and critical minerals, European Trade Commissioner Maros Sefcovic said on Wednesday. Sefcovic, in Dubai to launch free trade agreement negotiations with the United Arab Emirates, said he was talking to U.S. counterparts every other day in search of a deal to limit tariffs, with another call due on Thursday.

Brazilian steel companies' shares fall after government renews tariff system

Stocks of Brazilian steel companies fell on Wednesday after the government said it would renew for 12 months a system meant to protect the national steel industry, but that steelmakers have said is ineffective. The steel industry began criticizing the quota system almost as soon as it was set up last year, saying it failed to control the flow of imports, mainly from China. Under the system, as long as the import quota is not reached, steel products can enter the country if they pay import tax of between 9% and 16%.