Lula Warns U.S. Tariff Move on Brazilian Imports Risks Retaliation
(MENAFN) A U.S. proposal to impose a steep 50% tariff on Brazilian imports may activate Brazil’s Reciprocity Law, President Luiz Inacio Lula da Silva cautioned on Thursday.
Lula stated that if Washington moves forward with the planned tariff hike on August 1, Brazil will respond by implementing reciprocal measures—though he emphasized that diplomatic dialogue will remain open.
"But if there is no negotiation, the Reciprocity Law will apply. If he charges us 50 percent, we will charge him 50 percent," Lula said during an interview with a local broadcaster.
The president also pointed out that Brazil has experienced a trade imbalance with the United States—its second-largest trading partner—for the last 15 years.
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