Brazil seeks 'full tariff reduction' in US trade pact

(Corrects paragraph 1 name ‌of Brazil minister)

SAO ​PAULO/MILWAUKEE, ​Sept 30 (Reuters) - Brazil is seeking a "full tariff reduction" in talks with the US, Trade Minister Marcio Elias Rosa told reporters ‌on Wednesday after he met with US Trade Representative Jamieson Greer ⁠on the sidelines of a G20 meeting in Milwaukee.

The two countries will establish a ‌working group to discuss issues ‌related to a potential agreement on trade, the Brazilian government said in a statement, adding both sides aim to move swiftly toward a ​mutually acceptable understanding.

• The tariff cuts Brazil is seeking include all US Section 232 tariffs on steel and aluminum, the 12.5% duty related ⁠to US forced labor allegations and a 25% tariff imposed under a Section 301 unfair trade ​practices investigation.

• According to the statement, the US will submit a proposal in the coming weeks setting out the scope ​of negotiations, including tariff and non-tariff issues.

• ‌The meeting, which also included Brazil's foreign minister, Mauro Vieira, builds on bilateral engagement following a phone call in ⁠August between US President Donald Trump and his Brazilian counterpart, Luiz Inacio Lula da Silva.

• Brazil does not intend to use its so-called reciprocity law over tariffs against ⁠the US while trade talks continue, Lula told CNN International earlier this month.

• Rosa told ​reporters that Greer did not bring up potential new tariffs of 100% on Brazil's purchases of Russian oil products under a sweeping new US sanctions law aimed at ‌ending Russia's war in Ukraine.

• Rosa also said that accessing Brazil's critical minerals wealth could become part of ‌trade talks with the US, but that Brazil would offer similar opportunities to ⁠other countries if there are ‌value-added investments in processing.

(Reporting ​by Gabriel Araujo in Sao Paulo and David Lawder in Milwaukee; Writing by Isabel Teles; Editing by Matthew Lewis and ‌Sonali Paul)

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