Latest news with #pseudo-Brazilians
The Star
a day ago
- Business
- The Star
Brazil-US meeting canceled amid tariff dispute, says finance minister
FILE PHOTO: Brazil's Finance Minister Fernando Haddad looks on during a meeting in Brasilia, Brazil, June 3, 2025. REUTERS/Adriano Machado/File Photo SAO PAULO (Reuters) -Brazil Finance Minister Fernando Haddad said on Monday that his virtual meeting with U.S. Treasury Secretary Scott Bessent had been canceled after initially being scheduled for Wednesday. That was a setback for the Brazilian government, which had hoped to use the meeting to negotiate tariffs after U.S. President Donald Trump's administration imposed 50% duties on several Brazilian goods. Speaking to GloboNews TV, Haddad said no new date had been set for the call, despite Brazil's request to reschedule it following the cancellation notice. The minister lamented that Brazil was not even able to sit at the table to negotiate tariffs with the United States and criticized what he called "pseudo-Brazilians" in Washington lobbying against their own country. The tariff hike was linked by the Trump administration to the trial of his right-wing ally, former President Jair Bolsonaro, who is facing charges over an alleged coup attempt following his 2022 electoral defeat. Congressman Eduardo Bolsonaro, Bolsonaro's son, has been in the U.S. since March, campaigning for sanctions against those responsible for the judicial proceedings. Haddad said Brazil will need to explore other markets more aggressively, highlighting Southeast Asia as a promising region and calling for urgent progress on a trade deal between South American bloc Mercosur and the European Union. The minister also said the government will soon issue an executive order to address the impact of higher U.S. tariffs. The package will include structural reforms to Brazil's export guarantee mechanisms through the Export Guarantee Fund (FGE). According to Haddad, the order will also support certain government purchases and credit measures, forming a multi-pronged response as there is no single solution for the roughly 10,000 companies affected. (Reporting by Gabriel Araujo in Sao Paulo and Marcela Ayres in Brasilia, editing by Ed Osmond)
Straits Times
a day ago
- Business
- Straits Times
Brazil-US meeting canceled amid tariff dispute, says finance minister
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Brazil's Finance Minister Fernando Haddad looks on during a meeting in Brasilia, Brazil, June 3, 2025. REUTERS/Adriano Machado/File Photo SAO PAULO - Brazil Finance Minister Fernando Haddad said on Monday that his virtual meeting with U.S. Treasury Secretary Scott Bessent had been canceled after initially being scheduled for Wednesday. That was a setback for the Brazilian government, which had hoped to use the meeting to negotiate tariffs after U.S. President Donald Trump's administration imposed 50% duties on several Brazilian goods. Speaking to GloboNews TV, Haddad said no new date had been set for the call, despite Brazil's request to reschedule it following the cancellation notice. The minister lamented that Brazil was not even able to sit at the table to negotiate tariffs with the United States and criticized what he called "pseudo-Brazilians" in Washington lobbying against their own country. The tariff hike was linked by the Trump administration to the trial of his right-wing ally, former President Jair Bolsonaro, who is facing charges over an alleged coup attempt following his 2022 electoral defeat. Congressman Eduardo Bolsonaro, Bolsonaro's son, has been in the U.S. since March, campaigning for sanctions against those responsible for the judicial proceedings. Haddad said Brazil will need to explore other markets more aggressively, highlighting Southeast Asia as a promising region and calling for urgent progress on a trade deal between South American bloc Mercosur and the European Union. Top stories Swipe. Select. Stay informed. World Trump seizes control of Washington police, deploys National Guard Business Lower-wage retail workers to receive up to 6% pay bump from Sept 1 Singapore Keppel to sell M1's telco business to Simba for $1.43b, says deal expected to benefit consumers Singapore ST Explains: Who owns Simba, the company that is buying M1? Singapore Telco price undercutting expected to subside after sale of M1 to Simba: Analysts Singapore ST Explains: What is Vers and which HDB estates could it be rolled out in? Singapore For Vers to work, compensation should account for varied needs of HDB flat owners: Observers Singapore At least $2m lost in S'pore to govt official impersonation scams involving cryptocurrency in Q1 The minister also said the government will soon issue an executive order to address the impact of higher U.S. tariffs. The package will include structural reforms to Brazil's export guarantee mechanisms through the Export Guarantee Fund (FGE). According to Haddad, the order will also support certain government purchases and credit measures, forming a multi-pronged response as there is no single solution for the roughly 10,000 companies affected. REUTERS
