Trump signed an order to waive 40% of tariffs on certain Brazilian agricultural products.

Golden Finance reports that the White House announced that President Trump has signed an order to modify tariffs on certain agricultural products from Brazil. Trump stated that he signed an executive order in July of this year to impose an additional 40% ad valorem tariff on specific goods from Brazil. Subsequently, in October, he negotiated with Brazilian President Lula and received additional information and recommendations from various officials. The officials believe that due to the preliminary progress in negotiations with the Brazilian government and other relevant factors, certain agricultural products imported from Brazil should no longer be subject to the additional ad valorem tariffs. After considering the information and recommendations provided by these officials, as well as the state of negotiations with the Brazilian government, Trump determined that it was necessary and appropriate to modify the scope of products subject to the additional ad valorem tariff imposed by the previous executive order. Therefore, his latest decision states that certain agricultural products will not be affected by the additional ad valorem tariffs imposed by the previous executive order, and the new adjustments will apply to goods entering the United States after November 13.