(USAgNet) – Brazil has temporarily lifted its 18% tariff on all U.S. ethanol as of Wednesday and running through the end of the year as a means of decreasing inflationary pressures.

The following is a joint statement from Ryan LeGrand, President and CEO, U.S. Grains Council; Emily Skor, CEO, Growth Energy; and Geoff Cooper, President and CEO, Renewable Fuels Association:

“We are pleased to see the temporary elimination of the 18% tariff, which should improve access for Brazil’s ethanol consumers as well as help meet its own decarbonization goals.

“This is an issue we have been working on for a number of years in meetings and correspondence with officials from Washington to Brasilia.

“We welcome this decision and see it as an opportunity to continue discussions with Brazil to expand the global use of low-carbon ethanol, reduce barriers to trade, and elevate its prominence in energy discussions.

“Our hope is that with this action, Brazil and the United States will share with third parties the vision of free and open global ethanol markets.

“We will continue to pursue a long-term, open, and mutually beneficial ethanol trading relationship with Brazil as we work to make this temporary reduction permanent.