Vice President of Brazil, Geraldo Alckmin. Reuters Yonhap News. 

Brazil's Vice President Geraldo Alckmin stated on the 15th (local time) that despite U.S. President Donald Trump's decision to exempt tariffs on some agricultural and livestock products, a 40% tariff rate remains on Brazilian coffee, beef, and tropical fruits, according to an AP report on the same day.

According to the report, Vice President Alckmin said at a press conference in Brasilia, the Brazilian capital, "President Trump's recent (agricultural tariff reduction) decision is positive and in the right direction," but added that many Brazilian exports to the U.S. will continue to be subject to additional tariffs.

President Trump signed an executive order on the 14th to exempt reciprocal tariffs on certain agricultural products to alleviate the burden of 'grocery prices.'

The tariff-exempt items included beef, coffee, tomatoes, tropical fruits such as bananas and pineapples, nuts, and spices. Coffee, beef, and tropical fruits are all major Brazilian exports to the U.S.

Brazilian coffee beans. AP Yonhap News. 

However, Vice President Alckmin explained, "While everyone will face a 10% reduction, in Brazil's case, the tariff rate was 50%, so a rate of 40% remains high."

President Trump had previously imposed an additional 40% tariff on Brazilian products in July, on top of the existing 10% reciprocal tariff, calling the trial of former Brazilian President Jair Bolsonaro, who was indicted on charges including plotting a coup, a "witch hunt."

However, diplomatic tensions between the two countries that lasted for several months subsequently eased somewhat following President Trump's encounter with President Lula and a phone call during the UN General Assembly in September. Following a summit meeting in Kuala Lumpur last month, a mood for tariff rate adjustments through discussions between working-level officials has now been created.

Vice President Alckmin stated on the day, "The meeting between President Lula and President Trump holds very significant meaning in terms of dialogue and negotiation."

Yonhap News