Brazilian President Luiz Inacio Lula da Silva on Monday denounced what he called “tariff blackmail” as the South American giant deals with a 50 percent import charge imposed by US counterpart Donald Trump.
“Tariff blackmail is being normalized as an instrument for market conquest and to interfere in domestic affairs,” Lula said during a virtual meeting of BRICS leaders including China’s Xi Jinping, Vladimir Putin of Russia and South Africa’s Cyril Ramaphosa.
Brazil’s exports to the United States plunged 18.5 percent year-on-year in August after Trump slapped his highest level of trade tariff on a range of goods from Latin America’s biggest economy.
Trump is punishing Brazil for what he calls a “witch hunt” against his ally, former far-right president Jair Bolsonaro, who is on trial for allegedly plotting a coup to take power back from Lula, who defeated him in October 2022 elections.
A verdict in the trial is expected this week.
Brazil has said it is considering retaliatory trade measures against the United States, and has asked the World Trade Organization for help in resolving the dispute.
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AFP
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