SAO PAULO, Dec. 12 (Xinhua) -- Brazilian President Luiz Inacio Lula da Silva has asked U.S. President Donald Trump to suspend an additional 40 percent tariff on Brazilian products as bilateral negotiations continue.
"The president has requested that the tariff be paused while negotiations are underway. We must wait," said Vice President and Minister of Development, Industry, Trade and Services Geraldo Alckmin on Friday.
Alckmin said talks between Brazil and the United States "continue to make progress" following the Trump administration's decision to reduce the scope of the original tariff, which had initially affected nearly 4,000 products subject to a combined 50 percent tariff.
He recalled that when Trump issued the initial executive order establishing the measure, 37 percent of Brazilian exports were subject to the combined 10 percent plus 40 percent tariff.
Since then, that figure has decreased to 22 percent, marking a reduction of about one-third of the products originally covered by the tariff, according to Alckmin.
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." Enditem.
