Beef may escape the tariff hike, says JBS CEO

Gilberto Tomazoni, global CEO of JBS, said there is still a possibility that Brazilian beef could be excluded from the new 50% tariff imposed by the US. According to the executive, negotiations between the two countries are ongoing and may result in an agreement that removes the product from the measure. “Negotiations are not over yet. A significant number of products were exempted from the tariff. Before the tariff is implemented, the Brazilian government should be negotiating, and beef could be included in that group. I believe we can still move forward in the talks and reach a good understanding,” Tomazoni said in an interview with the videocast Raiz do Negócio (a production by The AgriBiz in collaboration with InfoMoney).

Tomazoni’s analysis comes amid growing pressure from US beef importers, who have warned the Donald Trump administration about the risk of price increases. The US cattle herd is the smallest in more than 70 years, which has driven beef prices to record highs.