Brazilian and American business groups sent a joint letter proposing a two-stage deal to head off a twenty-five percent tariff due to be decided on July 15.

Washington must act on a 25 percent tariff by 15 July. Brazil offered cuts on 300 product lines but deliberately left Pix off the table.

The US is proposing a new 25 percent tariff on various Brazilian products. That's only the latest development in what has been a very up-and-down year for US-Brazil trade.

Brazilian and American business groups sent a joint letter proposing a two-stage deal to head off a twenty-five percent tariff due to be decided on July 15.