Lula Stands Firm Amidst U.S. Tariff Hike: A Diplomatic Standoff
With U.S. tariffs on Brazilian goods surging to 50%, President Lula is cautious about seeking direct talks with President Trump. Despite high tariffs, Brazil's economy remains resilient, allowing Lula to maintain his stance. Lula emphasizes Brazil's sovereignty over mineral resources and plans for a national policy on strategic minerals.
In a new twist to international trade tensions, U.S. tariffs on Brazilian goods soared to 50% on Wednesday, prompting Brazil's President Luiz Inacio Lula da Silva to voice reservations about direct negotiations with U.S. President Donald Trump. Lula's remarks reflect his desire to avoid any diplomatic 'humiliation.'
Despite the hefty tariffs, Lula emphasized that Brazil is not planning reciprocal measures. Instead, his administration continues to pursue cabinet-level dialogues while prioritizing domestic economic strategies to mitigate the fiscal impact. Lula plans discussions with BRICS leaders, such as India and China, to explore a joint response.
Amidst these trade tensions, President Lula is spearheading a move to delineate a new national policy for Brazil's strategic mineral resources, aiming to enhance domestic value addition and assert national sovereignty.
(With inputs from agencies.)
Google News