Brazil warns of tariff war if U.S. maintains threats

AWANI

Brazilian President Luiz Inacio Lula da Silva warns of a potential tariff war if the U.S. continues imposing trade barriers, with Brazil prepared to respond if talks fail.

Transcript

00:00Brazilian President Luiz Inácio Lula da Silva warns that a tariff war could erupt

00:05if the U.S. continues imposing trade barriers on Brazilian goods.

00:09Brazil has repeatedly said it will take reciprocal measures if negotiations fail to resolve the issue.

00:16He announced that Trump's tariff plans were misguided,

00:20pointing out that over the past 15 years,

00:22Brazil has run a US$410 billion deficit in bilateral trade with the U.S.

00:27U.S. President Donald Trump threatened on July 9 a 50% tariff on Brazilian imports starting August 1.

00:35He attributed the tariffs on Brazil's treatment of former President Jair Bolsonaro

00:39and alleged unfair trade practices against U.S. companies.

00:44On July 14, Lula announced the formation of an inter-ministerial committee

00:48to coordinate economic and trade countermeasures to protect Brazil's economy.

Category

Transcript

Be the first to comment

Recommended