President Luiz Inácio Lula da Silva said on Thursday (Nov. 20), in a video posted on social media, that the US suspension of the 40 percent trade tariff on a specific list of Brazilian products was an important signal.

“It’s not everything I want, it’s not everything Brazil needs, but it’s an important step. President Trump has just announced that he will begin to reduce the tariff on several Brazilian products that were taxed at 40 percent. This is a very important result,” he said. Lula praised the US president’s decision and said he hoped the two could meet again in person in Brazil or the United States.

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“He [Trump] is invited to come to Brazil whenever he wants, and I hope to be invited to Washington to resolve any commercial or political disputes between Brazil and the United States,” he added.

Lula recorded the video alongside Vice President Geraldo Alckmin and Finance Minister Fernando Haddad in São Paulo, shortly before departing for South Africa to attend the G20 Summit. The president made a point of thanking Trump, albeit partially, and urged countries to work toward a comprehensive trade agreement.

“I will thank you only partially, because I will thank you fully when everything is completely agreed between us,” Lula stated.

Retroactive measure

US President Donald Trump announced on Thursday (Nov. 20) the withdrawal of the 40 percent import tariff on certain Brazilian products. The list released by the White House includes items such as coffee, tea, tropical fruits and fruit juices, cocoa and spices, bananas, oranges, tomatoes, and beef.

In the executive order published by the US Presidency, Trump states that the decision was made after a telephone conversation with President Luiz Inácio Lula da Silva, “during which we agreed to begin negotiations to address the issues identified in Executive Order 14,323.” According to the publication, these negotiations are still ongoing.

The measure taken by the United States is retroactive to November 13, the same date as the most recent meeting between Brazilian Foreign Minister Mauro Vieira and American Secretary of State Marco Rubio in Washington. On that occasion, they discussed the progress of negotiations to reduce tariffs.