UPDATE 1-Chile in final phase of negotiations to reach trade deal with US, Chilean official says

Chile is in the final phase of negotiations with the office of the United States Trade Representative (USTR) over tariffs, Chile's undersecretary of international economic affairs Claudia Sanhueza told Reuters on Tuesday. Chile is the world's largest copper producer and copper cathodes are already exempt from U.S. tariffs. Sanhueza said President Donald Trump's administration currently had low tariff rates on other exports from the Andean nation.

At the end of July, a delegation from Chile traveled to Washington to meet with USTR representatives to work towards an agreement. "We are under a confidentiality agreement, but discussing different topics of interest to maintain our strong economic and trade relationship with the United States," Sanhueza told Reuters on the sidelines of an export event.

"We are now holding virtual talks because they are in the final phase," Sanhueza said, adding that a lot of progress had been made in the second round of talks. The USTR did not immediately reply to a request for comment.

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