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[BUSINESS] · Brazil, United States · 20 sources

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Brazil and U.S. to negotiate trade tariffs at G20 summit

Brazilian officials are preparing for a high-level in-person meeting with United States trade representatives in Milwaukee during the G20 summit, scheduled for September 30 to October 1. Brazilian Minister of Development, Industry, Commerce and Services Márcio Elias Rosa and Foreign Minister Mauro Vieira are expected to meet with U.S. Trade Representative Jamieson Greer to negotiate the reduction of trade tariffs.

The discussions follow the imposition of significant surtaxes by the U.S. government. In July, the USTR implemented a 25% surtax on various Brazilian products, including iron, steel, footwear, apparel, sugar, ethanol, and agricultural machinery, citing unfair trade practices. A subsequent 12.5% surtax was applied to other goods based on allegations regarding the control of forced labor imports.

These measures have already impacted the Brazilian economy. A survey by the Federation of Industries of the State of São Paulo (Fiesp) found that 69% of São Paulo industries exporting to the U.S. have experienced a reduction in orders, with 42.9% reporting a decline greater than 25% in volume. The negotiations follow a cordial phone call between Presidents Luiz Inácio Lula da Silva and Donald Trump on August 21, which opened a new channel for dialogue.

Entities

Donald Trump · Federation of Industries of the State of São Paulo · Jamieson Greer · Luiz Inácio Lula da Silva · Mauro Vieira · Ministry of Development, Industry, Commerce and Services · Márcio Elias Rosa

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