Argentina's government expects the country to attain an exemption from US tariffs on imports of steel and aluminum as a result of meetings between the countries' officials at the weekend at the Summit of the Americas in Lima, Peru, according to sources.
According to sources, an agreement between the countries is already settled, but has yet to be officially confirmed.
The Argentinian Ministry of Production declined to comment Tuesday.
What is left to be decided is the volume to be allowed into the US without tariffs, sources said.
In the past week, after US President Donald Trump canceled a visit to the Lima meeting -- where he was expected to meet Argentinian President Mauricio Macri -- the Latin American country felt uncertain about the negotiations, sources said.
However, US Secretary of Commerce Wilbur Ross met with Argentina's Minister of Production Francisco Cabrera, who said the meeting was positive.
The deadline for negotiations is the end of April. However, Argentina's Secretary of Commerce, Miguel Braun, said Ross could extend a temporary exemption period while negotiations were ongoing.
According to Department of Commerce and International Trade Commission data, Argentina exported 210,768 mt of tube steel to the US in 2017 with a cumulative value of $222 million.
