Gilberto Tomazoni, global CEO of JBS, stated that there is still a possibility that Brazilian beef could be excluded from the new 50% tariff imposed by the U.S. According to the executive, negotiations between the two countries are ongoing and could result in an agreement that excludes the product from the measure.
“The negotiations are not yet over. A significant number of products were exempted from the tariff. Before the tariff is implemented, the Brazilian government must be negotiating, and beef could be included in that group. I believe we can still advance the talks and reach a good understanding”, Tomazoni said in a recent interview.
Tomazoni’s analysis comes amid growing pressure from U.S. beef importers, who have warned the Trump administration about the risk of price increases. U.S. stocks are at their lowest in more than 70 years, pushing beef prices to record highs.
