Alckmin says 15% global tariff imposed by the US may be beneficial to Brazil
Brazil's Vice President Geraldo Alckmin believes the new 15% global tariff imposed by the US could improve Brazil's competitiveness in international trade.
Brazil's Vice President Geraldo Alckmin has expressed a positive outlook regarding the new 15% global tariff established by the US, which was announced by President Donald Trump. Alckmin suggests that this tariff could be advantageous for Brazil, especially considering the previous 50% tariffs that were previously imposed on Brazilian products, although with certain exceptions. The recent adjustment follows a ruling by the US Supreme Court, which deemed Trump's reciprocal tariffs unconstitutional, thus prompting a shift in strategy toward a more uniform global tariff rate.
Despite his optimism, Alckmin voiced concerns regarding ongoing US investigations into Brazilian trade practices. These investigations could pose challenges for Brazilian exporters, and the Vice President acknowledges the need for vigilance in maintaining favorable trade relations. The implementation of this new tariff, expected to begin on Tuesday, could affect Brazil's export landscape for up to 150 days unless Congress extends it, influencing not just Brazilian goods' competitiveness but also the broader context of international trade relations.
Alckmin believes that this new tariff structure will significantly enhance the competitiveness of Brazilian products, allowing for improved positioning in markets that had previously been hampered by higher tariffs. The move is perceived as a part of a strategic readjustment aimed at bolstering Brazil's presence in global markets, especially as the nation seeks to recover from economic challenges and strengthen trade ties amid complex international dynamics.