Brazilian President Luiz Inacio Lula da Silva on Monday denounced what he called " tariff blackmail " after the United States imposed a 50 per cent import charge on Brazilian goods.
"Tariff blackmail is being normalised as an instrument for market conquest and to interfere in domestic affairs," Lula said during a virtual meeting of Brics leaders, including Chinese President Xi Jinping, Russia’s Vladimir Putin and South Africa’s Cyril Ramaphosa.
The tariff, imposed by US President Donald Trump, targeted a wide range of Brazilian products and caused exports to the United States to drop 18.5 per cent year-on-year in August.
Trump said the measure was a response to what he described as a "witch hunt" against his ally, former president Jair Bolsonaro. Bolsonaro is on trial for allegedly plotting a coup after losing to Lula in the October 2022 elections. A verdict is expected this week.
Brazil has warned it may introduce retaliatory tariffs and has formally asked the World Trade Organisation to intervene in the escalating dispute.
"Tariff blackmail is being normalised as an instrument for market conquest and to interfere in domestic affairs," Lula said during a virtual meeting of Brics leaders, including Chinese President Xi Jinping, Russia’s Vladimir Putin and South Africa’s Cyril Ramaphosa.
The tariff, imposed by US President Donald Trump, targeted a wide range of Brazilian products and caused exports to the United States to drop 18.5 per cent year-on-year in August.
Trump said the measure was a response to what he described as a "witch hunt" against his ally, former president Jair Bolsonaro. Bolsonaro is on trial for allegedly plotting a coup after losing to Lula in the October 2022 elections. A verdict is expected this week.
Brazil has warned it may introduce retaliatory tariffs and has formally asked the World Trade Organisation to intervene in the escalating dispute.
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