Trump Signs Order Exempting Some Brazilian Agricultural Products from 40% Tariffs

On November 21st, the White House of the United States issued a statement indicating that President Trump has signed an order to make modifications to tariffs on certain agricultural products from Brazil. Trump declared that in July of this year, he signed an executive order to impose an additional 40% ad valorem tariff on specific goods from Brazil. Subsequently, in October, he engaged in negotiations with Brazilian President Lula and received supplementary information and suggestions from various officials. In the opinion of these officials, due to the initial progress achieved in negotiations with the Brazilian government and other relevant factors, certain agricultural imports from Brazil should no longer be subject to the additional ad valorem tariff. After taking into account the information and suggestions provided by these officials, as well as the negotiation status with the Brazilian government and other factors, Trump considers it necessary and appropriate to modify the scope of products subject to the previously imposed additional ad valorem tariff through the executive order. Therefore, in his latest decision, certain agricultural products will not be impacted by the additional ad valorem tariff imposed by the previous executive order, and the new adjustment will be applicable to goods entering the US after November 13th. (FXStreet)