Brazilian industry calls Lula-Trump talk a “concrete step forward”
Brazil's National Confederation of Industry (CNI) described the conversation between Brazilian President Luiz Inácio Lula da Silva and US President Donald Trump, held Monday (Oct. 6) via videoconference, as “concrete progress.”
CNI President Ricardo Alban says the virtual meeting reinforces “mutual respect and the relationship between the two countries.”
“For industry, this progress in negotiations is very important. From the beginning, we have advocated dialogue guided by respect and the significance of this bicentennial partnership. We will monitor and contribute in any way we can,” Alban stated.
According to the confederation, Lula asked Trump to revoke the additional tariff on Brazilian products. The CNI stated that if the request is accepted by the United States, it could pave the way to exempt $7.8 billion in Brazilian exports to the US.
“What is at stake is not extra gains for Brazil, but the recovery of commercial space. The possibility of integrating the annex [Potential Tariff Adjustments for Aligned Partners] would restore predictability and competitiveness to our exports, correcting distortions that directly affect industry and employment in the country,” Alban said.
The Potential Tariff Adjustments for Aligned Partners annex, presented by US Executive Order No. 14,346 on September 5, provides for possible tariff exemptions on 1,908 products, subject to trade and security commitments.
The CNI’s analysis shows that the annex covers 18.4 percent of Brazil’s exports to the US market in 2024. Coffee, cocoa, fruits, and metal products are among the items that could benefit. This would be added to the 26.2 percent of exports already exempt from additional tariffs.
