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'Any unilateral move will face a response': President Lula hits back after Trump imposes 50% tariff on Brazil; warns of reciprocal action
'Any unilateral move will face a response': President Lula hits back after Trump imposes 50% tariff on Brazil; warns of reciprocal action

Time of India

time3 days ago

  • Business
  • Time of India

'Any unilateral move will face a response': President Lula hits back after Trump imposes 50% tariff on Brazil; warns of reciprocal action

US President Donald Trump (left) and Brazilian President Lula Da Silva (right) (AP images) Brazil on Wednesday (local time) warned that it will take reciprocatory actions against US after Donald Trump announced a new 50% tariff on Brazilian goods, escalating tensions between the two countries. "In light of the public statement by US President Donald Trump posted on a social media platform this Wednesday afternoon (9), it is important to emphasise: Brazil is a sovereign nation with independent institutions that will not accept being dictated to by anyone," Brazilian president Lula Da Silva said in a post on X. . "The claim regarding an alleged US trade deficit in the commercial relationship between Brazil and the United States is false. Statistics from the US government itself confirm a surplus for that country in the trade of goods and services with Brazil, amounting to 410 billion dollars over the past 15 years. In this regard, any unilateral measure to increase tariffs will be met with a response in accordance with Brazilian Economic Reciprocity Law," he added. Trump imposed tariffs in response to his support for former Brazilian President Jair Bolsonaro , who is facing charges for trying to stage a coup against present government. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo "In Brazil, freedom of expression is not to be confused with aggression or violent practices. To operate in our country, all national and foreign companies are subject to Brazilian legislation," Silva said. Former Brazilian President Jair Bolsonaro along with 33 others were on February formally charged over an alleged coup attempt after his loss in 2022 elections. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

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