After signing an executive order reducing tariffs on agricultural products this Friday (11/14), US President Donald Trump ruled out further cuts in an interview aboard Air Force One. When asked about the possibility of future adjustments, he said, “I don’t think it’s necessary.”
The cuts announced by the White House include meat, coffee and fruit, which Brazil exports widely. The move was welcomed by the Brazilian government, which is continuing negotiations with the Trump administration to remove tariffs on its products.
However, the signals sent by President Trump after the announcement suggest a nuanced scenario. “We just had a small withdrawal. Coffee prices were a little high, but now they will go down in a very short period of time,” he added.
In the case of Brazil, the executive order signed by the same Republican only removed the 10% reciprocal tariff that the same party formally enacted on April 2 of this year. The 40% additional tariffs, which were formalized at the end of July, remain in effect and should be the focus of the next meetings and negotiations between the two countries.
According to a technical note from the Confederation of National Industries (CNI), 73.8% of Brazil’s exports to the United States remain subject to additional tariffs. By the time reviews were published this Friday, that percentage had reached 77.8%, covering 6,037 products.
Trump’s justification
In the text of the executive order, President Trump justified the tariff reduction by saying he had received “additional information and recommendations from various authorities.”
“After considering the information and recommendations provided by the authorities, the progress of negotiations with various trading partners, the current domestic demand for certain products, and the current domestic production capacity for certain products, we have determined that further changes to the range of products subject to reciprocal tariffs imposed by Executive Order 14,257 are necessary and appropriate,” he said in a statement.
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The move was announced a day after Brazilian Foreign Minister Mauro Vieira and US Secretary of State Marco Rubio met in Washington. During the meeting, the two diplomats discussed resolutions on tariffs.
After the meeting, Vieira said a “general proposal” to address interest rates had been delivered to North American representatives. The prime minister also said the two countries hope to conclude an initial agreement by early December.
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