The Brazilian National Confederation of Industry (CNI) expressed “concern and caution” regarding the 10% tariff on all Brazilian exports announced by President Trump. The statement was released on Wednesday.
“We must insist and intensify dialogue to find solutions that mitigate the potential impacts of these measures,” stated Ricardo Alban, president of the association, in the communiqué.
“We reiterate the industry’s willingness to contribute to negotiations with our American partners,” Alban added.
The leader noted that a business delegation will visit the United States in May to “strengthen cooperation.”
In response to the White House’s accusations of an alleged trade imbalance, CNI highlighted the significant trade surplus that the United States has with Brazil. It also pointed out that the average Brazilian tariff on U.S. imports is just 2.7%, compared to the general average of 11.2% for all products Brazil imports from abroad.
On Wednesday night, Brazil’s lower parliament, the Chamber of Deputies, approved a reciprocity bill in foreign trade, reacting to the tariffs announced by Trump.
The legislation permits the government to implement measures against countries or economic blocs that impose restrictions on Brazilian exports, whether commercial or product origination in nature.
The bill was passed by the Senate on Tuesday and is now awaiting approval by Brazilian President Luiz Inácio Lula da Silva.
“In the most critical moments, there is no left or right Brazil, just the Brazilian people. We, as representatives of the people, must have the capacity to defend them above our differences,” said the Speaker of the Chamber, Hugo Mota, before the vote.
As the bill was being voted on, the Brazilian government issued a statement highlighting the Senate’s approval and regretting the decision made by the United States.
“This new measure, along with other tariffs already imposed on the steel, aluminum, and automotive sectors, violates U.S. commitments to the World Trade Organization and will impact all Brazilian exports of goods to the U.S.,” emphasized Brazil’s Ministry of Foreign Affairs.
Earlier, Minister Mauro Vieira had a phone conversation with the U.S. Trade Representative regarding the 25% tariffs on steel and aluminum that had previously been unilaterally imposed.
A source from the Ministry of Foreign Affairs indicated to Lusa that the two officials “agreed that their teams will meet virtually next week.”
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