BRASILIA, Feb 20 (Reuters) – Brazil’s Vice-President Geraldo Alckmin said on Friday the U.S. Supreme Court ruling that struck down President Donald Trump’s sweeping tariffs was really important for the South American country, as it removed levies specifically targeting the nation and restored its competitiveness in the U.S. market.
Speaking at a press conference, Alckmin, who also serves as Brazil’s development, industry and trade minister, called for caution amid upcoming developments from the ruling and said the country intends to keep negotiating trade and non-trade issues with Washington.
Trump had imposed 40% tariffs on several Brazilian goods in August over what he called a “witch hunt” against Brazil’s former right-wing President Jair Bolsonaro, but has exempted some products as U.S. inflation ticked up and following talks with President Luiz Inacio Lula da Silva.
In his latest such move in November, Trump removed additional tariffs on multiple Brazilian food products, including coffee and beef.
“Brazil had an additional 40% tariff that no one else had. That was the problem. We were effectively losing competitiveness,” Alckmin told journalists in Brasilia, noting the ruling could strengthen United States-Brazil ties.
The vice-president also said that Trump’s vow on Friday to impose a blanket 10% tariff on imports from all countries would not affect Brazil’s competitiveness this time, as it would impact goods from all nations equally.
(Reporting by Victor Borges; Additional reporting and writing by Fernando Cardoso; editing by Diane Craft)
Comments