Brazil Presses U.S. to Reverse 50 Percent Tariff
(MENAFN) Brazil is actively negotiating with the United States to reverse a hefty 50 percent tariff on its exports, while simultaneously working to broaden its international trade partnerships, Brazilian Foreign Trade Secretary Tatiana Prazeres announced Tuesday.
Addressing a seminar hosted by the Federation of Industries of Sao Paulo and the Council of the Americas, Prazeres emphasized the government's dual approach: engaging with Washington on tariff discussions and bolstering support for companies impacted by the duties.
She revealed that the Brazilian Trade and Investment Promotion Agency is spearheading efforts to pinpoint alternative markets, with Mexico, Canada, and India identified as key targets. Additionally, progress is underway in trade negotiations between Mercosur—the Southern Common Market—and trading blocs including Canada, the European Free Trade Association, and the European Union.
The 50 percent tariff, imposed by U.S. President Donald Trump in August, affects a broad array of Brazilian goods such as beef, fruit, and coffee. The tariff was introduced in retaliation for Brazil’s prosecution of former President Jair Bolsonaro, who is currently under house arrest over allegations linked to a coup attempt.
Prazeres reaffirmed Brazil’s stance on seeking “a win-win relationship” with the U.S., highlighting the critical role of the private sector in fostering a constructive trade agenda.
In response to the tariff, Brazil lodged a formal complaint with the World Trade Organization. Since 2009, the U.S. has been Brazil’s second-largest trading partner after China, accounting for approximately 12 percent of Brazilian exports.
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