Brazilian Vice President Geraldo Alckmin hailed the US Supreme Court's decision to overturn tariffs imposed by Trump, stating that the new global tariff of 10% levels the playing field for Brazil.
On Friday, Vice President of Brazil, Geraldo Alckmin, who also serves as the Minister of Industry and Commerce, celebrated the US Supreme Court's recent ruling that nullified the hefty tariffs introduced by former President Donald Trump in April of last year. Alckmin deemed this judicial decision as 'very important for Brazil', indicating that such a ruling would have positive implications for the country's economic positioning on the global market.
In light of the Supreme Court's decision, President Trump announced a new global tariff of 10% which will take effect immediately affecting all countries uniformly. Alckmin emphasized that this new rate is beneficial to Brazil as it levels the competitive landscape, allowing Brazilian products to compete more fairly against international counterparts that previously benefited from the absence of tariffs while also underlining the problem of Brazil's former 40% tariff.
Alckmin's comments reflect an optimistic view of the implications of the tariff change, suggesting that a global 10% rate will not hinder Brazil's competitiveness but rather preserve it by aligning tariffs internationally. This perspective is vital for Brazil’s industrial sectors that may have faced hardships due to previous trade policies, and it opens discussions on future international trade dynamics under the new tariff regime.
