The ethanol industry is looking forward to working with new Brazilian President Lula da Silva, who has a lot of experience both being president and working on ethanol issues.

Brazil last week extended the suspension of the import tariff on ethanol, at least through the end of this month. This extends the suspension announced last March of tariffs on U.S. ethanol and several other products until the end of 2022.

“This is a positive first step toward a permanent resolution and it sends a favorable signal to the marketplace,” said Renewable Fuels Association President and CEO Geoff Cooper. “As we look ahead to 2023, we stand ready to work with President Lula da Silva and his administration to restore free and fair ethanol trade between our nations. As the world’s leaders in the production and use of low-carbon ethanol, we must set an example of free trade and open markets for other nations to follow.”

Lulu da Silva was sworn in Sunday for a third term as president of Brazil, starting 20 years after his first term began, and 12 years since his second ended, and he was known as a strong advocate for ethanol during that time.