BRASILIA/SAO PAULO (Reuters) -Brazil on Wednesday urged the U.S. to respond to a trade proposal submitted in May, reaffirming its openness to a “mutually acceptable” deal after U.S. President Donald Trump announced a 50% tariff on Brazilian goods starting in August.
In a joint statement, Brazil’s Foreign Affairs Ministry and the Ministry of Development said the government had sent a letter on Tuesday, reinforcing its May 16 negotiating proposal. Vice President Geraldo Alckmin noted on Monday that the May offer had gone unanswered.
“In light of the urgency of the matter, the Brazilian government reiterates its interest in receiving comments from the U.S. government on the proposal,” the statement said, suggesting there were “areas of negotiation where we could further explore mutually agreed solutions.”
Brazil also expressed “indignation” at the planned increase in tariffs from 10% to 50% on its exports to the United States, warning of a “very negative” impact on both economies.
The letter from Brasilia also noted that Latin America’s largest economy has run persistent trade deficits with the United States in both goods and services, totaling nearly $410 billion over the past 15 years.
The statement came a day after U.S. Trade Representative Jamieson Greer announced an investigation into what he described as Brazil’s “unfair” trade practices.
Brazil’s Solicitor General Jorge Messias said on Wednesday that the U.S. had apparently launched that probe because of the weakness of the initial U.S. case for imposing the 50% tariffs.
(Reporting by Marcela Ayres, Bernardo Caram and Eduardo SimoesEditing by Brad Haynes and Aurora Ellis)
Brought to you by www.srnnews.com