Brazilian President Luiz Inacio Lula da Silva has requested that U.S. President Donald Trump suspend an additional 40 percent tariff on Brazilian products while bilateral negotiations continue, officials said Friday.
Vice President and Development Minister Geraldo Alckmin told reporters that talks “continue to make progress” after the Trump administration reduced the scope of the original measure, which had initially covered nearly 4,000 products subject to a combined 50 percent tariff.
Alckmin noted that when Trump issued the executive order, 37 percent of Brazilian exports faced the combined 10 percent plus 40 percent tariff. That figure has since fallen to 22 percent, cutting about one‑third of the products originally affected.
He added that 51 percent of Brazil’s exports are now subject to either zero or 10 percent tariffs, while 27 percent fall under Section 232 — “very close to what other competitors face.”