Brazil VP Hails US Tariffs Cuts. Working to Reduce Further

Brazil Vice President Geraldo Alckmin on Saturday welcomed the United States' decision to roll back tariffs on imports of more than 200 products, and said Brazil will work to reduce the tariffs further.

The U.S. increased tariffs on its imports of Brazilian goods to 50% from 10% in August.

Brazil is a top exporter of coffee, beef, and orange juice, products included in the announcement.

"The latest decision from U.S. President Donald Trump was positive and a step in the right direction," Alckmin told a press conference in Brasilia. "This benefits Brazil."

A significant portion of Brazil's exports to the U.S. continues to be subject to the additional tariff imposed in August, the vice president said.

"Every effort will be made to further reduce or completely eliminate (tariffs), as the case may be," he added.

Brazilian Foreign Minister Mauro Vieira and U.S. Secretary of State Marco Rubio, along with other officials, are negotiating the terms of a proposal to reduce tariffs on Brazilian exports.

The details of the Brazilian proposal have not been disclosed.

"We are optimistic, an important step has been taken, and I believe that further steps will be taken in the right direction," Alckmin said.

The Trump administration announced Thursday framework trade deals that, once finalized, will eliminate tariffs on certain foods and other imports from Argentina, Ecuador, Guatemala and El Salvador, with U.S. officials eyeing additional agreements before the year's end.