Former U.S. President Donald Trump has signed an executive order reducing tariffs on key brazilian exports like coffee, beef, and aircraft parts, a move welcomed by Brazilian President Luiz Inácio Lula da Silva. The action reverses tariffs implemented in July 2023, which the Trump administration had justified citing concerns over Brazilian trade policies and their impact on american interests. The tariff reductions, retroactive to November 13, come as part of a broader White House effort to lower reciprocal tariffs on agricultural imports from various nations, signaling a potential thaw in U.S.-Brazil trade relations.
Brazilian President Luiz Inácio Lula da Silva expressed satisfaction Thursday, November 20, with former U.S. President Donald Trump’s decision to reduce tariffs on some Brazilian products. The move signals a potential easing of trade tensions between the two countries.
“And today, I am happy because President Trump began to reduce some taxes he had imposed on some Brazilian products,” Lula said during an appearance at the São Paulo Auto Show.
According to Lula, further reductions are expected “as we gain respect from people.”
The Brazilian leader also commented on the timing of such announcements, stating, “No one needs to be informed at midnight that a president is going to issue a decree; it has to be noon.”
Trump signed an executive order late Wednesday, November 19, removing a 40% tariff on imports of certain Brazilian agricultural products, with the change retroactive to November 13, CNN Brasil reported.
The products affected include coffee, beef, oil, fruits, and aircraft parts – key Brazilian exports to the United States that were previously subject to the additional tariffs.
The White House stated the order will require refunds of taxes collected on Brazilian imports starting November 13. This decision aligns with a Friday, November 14, move to reduce “reciprocal” tariffs on agricultural imports from all trading partners, according to CNN Brasil. For Brazilian products, that initial tariff reduction was 10%.
The action reverses a decree issued July 30, which cited a “national emergency” stemming from Brazilian government policies and actions that Trump alleged harmed American companies, freedom of expression, and U.S. foreign policy and economy, justifying the imposition of the surtaxes.
