In a joint note, the entities point out damage to productive chains of the two countries
The US Chamber of Commerce and the American Chamber of Commerce for Brazil (AMCHAM Brazil) issued a joint note in which they ask the president of Donald Trump, the suspension of 50% tariffs imposed on Brazilian products. The taxation to Brazilian exports is expected to take effect from August 1. The entities’ note points out that the unilateral measure of the US ruler will affect “products essential to productive chains and US consumers, raising costs to families and reducing the competitiveness of United States strategic productive sectors”.
The two trading chambers argued that the United States and “Be engaged in high level negotiations in order to avoid 50%tariff implementation.” In addition, entities warn that taxes can establish a “worrying” precedent in the most important economic relations in the United States. “Entities point out that more than 6,500 small companies in the United States depend on Brazilian imports and another 3,900 US projects have investments in Brazil.
“Brazil is among the top ten markets for exports in the United States and is destined for about US $ 60 billion every year in US goods and services,” the statement says.
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Next, the full US Chamber of Commerce grade and Amcham:
“US Chamber and AMcham Brazil ask governments from the United States and Brazil to engage in high level negotiations in order to avoid the implementation of the 50%rate. The imposition of this measure as a response to broader political issues has the potential to cause serious damage to one of the most important economic relations in the United States, as well as establishing a worrying precedent. The 50% proposed tariff would affect products essential to productive chains and US consumers, raising costs to families and reducing the competitiveness of US strategic productive sectors.
More than 6,500 small companies in the United States depend on products imported from Brazil, while 3,900 US companies have investments in that country. Brazil is among the top ten markets for exports in the United States and is a destination each year of about US $ 60 billion in US goods and services.
A stable and productive business relationship between the two largest economies in the Americas benefits consumers, supports jobs and promotes prosperity in both countries. US Chamber and AMcham Brasil are available to support initiatives that favor a negotiated, pragmatic and constructive solution – that avoids the climb of the current situation and ensures the continuity of a mutually advantageous bilateral trade. ”
*With information from Agência Brasil
