Fiesp cites concern about proposed new US tariff against Brazil

Fiesp (Federation of Industries of the State of São Paulo) shows "deep concern" regarding the proposal published by the USTR (United States Trade Representative) on Monday night (1), according to an official statement released to the press this morning (2).

According to the document released by the American entity, due to actions subject to legal action under the so-called Section 301, the representation recommends the imposition of tariffs of 25% on all Brazilian imports.

According to Fiesp, the proposal presented has a strong negative impact on bilateral trade relations and Brazilian competitiveness. "At this moment, rapid and firm action by the Brazilian government is essential to avoid confirming serious losses to the country's exports before the final decision, expected in July", highlights Paulo Skaf, president of Fiesp.

The entity also reiterated its commitment to collaborating with the authorities and the commitment to the necessary diplomacy to reverse the proposed measures or mitigate their impacts.

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Source: CNN