financetom
Business
financetom
/
Business
/
Brazil asks US to spare food products, Embraer planes from 50% tariff, source says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Brazil asks US to spare food products, Embraer planes from 50% tariff, source says
Jul 29, 2025 12:28 PM

BRASILIA, July 29 (Reuters) - Brazil's government has

asked the U.S. to exclude food products and Embraer's ( ERJ )

aircraft from the 50% tariff it plans to impose on Brazilian

goods starting August 1, a source familiar with the matter told

Reuters on Tuesday.

The request was the main topic of recent discussions between

Brazilian and U.S. officials, the source said, including three

calls between Brazil's Vice President and Trade Minister Geraldo

Alckmin and U.S. Commerce Secretary Howard Lutnick in recent

days.

Newspaper Folha de S.Paulo first reported the request on

Monday.

The press office of Brazil's Development and Trade Ministry,

which is headed by Alckmin, denied the report, saying the

government is working to suspend the tariffs across all sectors.

But a Brazilian official, speaking on condition of anonymity

to discuss the sensitive topic, acknowledged that the government

had some priorities that it could not make public because of a

confidentiality clause in the negotiations.

It also wants to avoid the perception that it is trading off

some sectors for others, the source said. But the same person

added that some sectors needed to be prioritized in the talks

due to the severity of the impact in certain areas.

Embraer ( ERJ ), the world's No. 3 planemaker after Airbus

and Boeing ( BA ), is currently the government's top concern,

with dozens of pending deliveries to U.S. airlines. It has said

a 50% tariff could trigger order cancellations, deferred

deliveries and job cuts, hammering its revenue like the pandemic

did.

Ports and Airports Minister Silvio Costa Filho said the

government would do "everything within its power to help

Embraer ( ERJ )," hinting at potentially providing the planemaker with

credit lines.

In addition to aircraft, the U.S. is also a large buyer of

Brazilian food products, such as coffee and orange juice.

Trump's tariff plans could devastate Brazil's citrus belt,

where factories are already scaling back production and orange

farmers are considering leaving fruit to rot due to low prices.

Tariffs could also effectively halt the flow of Brazilian coffee

to the U.S.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Explainer-What can Trump do to stop federal employees from working remotely?
Explainer-What can Trump do to stop federal employees from working remotely?
Jan 23, 2025
(Reuters) - President Donald Trump is requiring most federal employees to return to work in person full time, a move that is likely to spark backlash and legal challenges from unions. WHAT DOES TRUMP'S ORDER DO? Trump on Monday directed the heads of all federal agencies to take all necessary steps to terminate remote work arrangements and require employees to...
Community West Bancshares Q4 Comparable EPS Declines, Revenue Rises
Community West Bancshares Q4 Comparable EPS Declines, Revenue Rises
Jan 23, 2025
04:50 PM EST, 01/23/2025 (MT Newswires) -- Community West Bancshares ( CWBC ) reported Q4 comparable earnings late Thursday of $0.38 per diluted share, down from $0.56 a year earlier. Analysts polled by FactSet expected $0.45. Revenue in the three months ended Dec. 31, expressed as the sum of net interest income and total noninterest income, rose to $34.3 million...
BancFirst Q4 Earnings, Revenue Rise
BancFirst Q4 Earnings, Revenue Rise
Jan 23, 2025
04:48 PM EST, 01/23/2025 (MT Newswires) -- BancFirst ( BANF ) reported Q4 earnings late Thursday of $1.68 per diluted share, up from $1.46 a year earlier. Three analysts polled by FactSet expected $1.62. Revenue, expressed as the sum of net interest income and total noninterest income, for the quarter that ended Dec. 31 was $162.9 million, up from $105.2...
Boeing Reports Preliminary Q4 Per-Share Loss of $5.46
Boeing Reports Preliminary Q4 Per-Share Loss of $5.46
Jan 23, 2025
04:49 PM EST, 01/23/2025 (MT Newswires) -- Boeing ( BA ) said late Thursday it expects to report a Q4 GAAP loss per share of $5.46 and Q4 revenue of $15.2 billion. Analysts polled by FactSet expect a per-share loss of $1.55 and revenue of $16.56 billion. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved