Indian auto component makers have huge export opportunities in markets of Brazil, Colombia, Poland, Africa
"We suffer the imposition of unexpected high tariffs. we (are) seeing the tariffs imposed on our country as a challenge, but also an opportunity to look for trusted partners and to do more business," the Brazilian envoy told ANI.
Regarding how they will deal with Trump tariffs, the envoy stated that Brazil is open to negotiating deals, though within the limits of its sovereignty.
Brazil and India both face 50 per cent tariffs from the President Donald Trump administration.
The Brazilian envoy also described as "fruitful" the latest telephonic conversation between Prime Minister Narendra Modi and President Luiz Inacio Lula da Silva.
"I think it was a very, very fruitful conversation, because the focus what we are trusted partners. We have had long relations, (and we are looking at) what we can do more together," the envoy said.
Prime Minister Modi received a telephone call on August 7, 2025, from the President of Brazil.
Prime Minister recalled his visit to Brazil last month during which the two leaders agreed on a framework to strengthen cooperation in trade, technology, energy, defence, agriculture, health and people-to-people ties. Building on these discussions, they reiterated their commitment to take the India-Brazil Strategic Partnership to new heights.
The two leaders exchanged views on various regional and global issues of mutual interest. The two leaders agreed to remain in touch.
Meanwhile, over the past few months, India and the US have been negotiating for an interim trade deal, but there were some reservations from the Indian side on the US demand for opening up the agricultural and dairy sectors for the US. Agriculture and dairy are critical for India as these two sectors provide livelihood opportunities to a large section of its people.
President Trump announced the imposition of a total 50 per cent tariffs on Indian goods, even as there were hopes of an interim India-US trade deal that would have otherwise helped avoid elevated tariffs.
India and the US initiated talks for a just, balanced, and mutually beneficial Bilateral Trade Agreement (BTA) in March this year, aiming to complete the first stage of the Agreement by October-November 2025.
On April 2, 2025, President Trump signed an executive order for reciprocal tariffs on various trade partners, imposing varied tariffs in the range of 10-50 per cent.
He subsequently kept the tariffs in abeyance for 90 days, while imposing a 10 per cent baseline tariff. The deadline was to end on July 9, and the US administration later pushed it ahead to August 1.
US President Donald Trump has imposed reciprocal tariffs on dozens of countries with which the US has a trade deficit. Since assuming office for his second term, President Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to "ensure fair trade".
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