Brazil, US Near Trade Deal; Tariffs May Drop

Brazil and the US inch closer to a trade deal, with a preliminary agreement potentially on the horizon by the end of November. This comes after a months-long disagreement and a brief meeting between the two leaders at the UN. Brazils Foreign Minister, Mauro Vieira, shared the update after meeting with his US counterpart. The US has reaffirmed an earlier proposal for a temporary deal, with a final agreement to follow two to three months later. The US President had previously threatened fifty percent tariffs on Brazilian exports, but some key products were exempted. The two nations have been engaged in high-level discussions since September, with Brazils President asking for the removal of tariffs and sanctions. Brazils government submitted a trade proposal last week, expecting a response by Friday. The US President and Treasury Secretary have hinted at lower tariffs on coffee, which was not originally exempted.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.