Source link : https://las-vegas.news/brazils-president-warns-of-retaliation-after-trump-unveils-50-p-c-tariffs/
Brazilian President Luiz Inácio Lula da Silva warned on Wednesday that his authorities is ready to retaliate after President Trump introduced plans to impose 50 p.c tariffs on items imported from his nation.
In a press release posted to the social platform X, the Brazilian chief pushed again on “inaccurate” claims of a U.S. commerce deficit in its industrial relationship with Brazil, saying, “Statistics from the U.S. government itself show a surplus of $410 billion in the trade of goods and services with Brazil over the past 15 years.”
“Therefore, any unilateral tariff increases will be addressed in accordance with Brazil’s Economic Reciprocity Law,” Lula continued within the assertion.
“Sovereignty, respect and the unwavering defense of the interests of the Brazilian people are the values that guide our relationship with the world,” he added.
The Financial Reciprocity Regulation was signed into regulation on April 14, shortly after Trump introduced his sweeping tariffs on quite a few international locations. The federal government cited Trump’s tariffs because the impetus for the regulation.
The regulation authorizes the legislative department to “adopt countermeasures in the form of restrictions to the importation of goods and services or measures to suspend concessions in the areas of trade, investments, and obligations related to intellectual property rights, as well as measures to suspend other obligations foreseen in any of the country’s…
—-
Author : LasVegasNews
Publish date : 2025-07-10 14:56:00
Copyright for syndicated content belongs to the linked Source.
—-
1 – 2 – 3 – 4 – 5 – 6 – 7 – 8