Brazil is preparing for possible additional US tariffs on purchases of Russian diesel fuel and fertilizers, the Financial Times reported.
The newspaper writes that concerns have grown after US President Donald Trump imposed tariffs on India over imports of Russian oil and petroleum products.
“The latest sanctions against India confirm that this could also happen to Brazil. The country buys a large amount of diesel fuel from Russia and most of the fertilizers used in agricultural production“, the newspaper quoted Carlos Viana, a member of the Federal Senate of the Brazilian parliament, as saying.
Trump previously imposed a 50% tariff on a number of Brazilian goods, including meat and coffee products. At the same time, Washington decided to exempt Brazilian pulp, aircraft components, rare earth metals and orange juice from tariffs. Brazilian President Lula da Silva promised a reciprocal response, but later expressed hope that a delegation led by the vice president would be able to negotiate a revision of the tariffs.