The Brazilian government initiated procedures related to the Economic Reciprocity Law on Aug. 29 in response to the United States' imposition of a 50% tariff on Brazilian exports. President Lula stated that although Brazil has begun preparing countermeasures, it still hopes to resolve the dispute through negotiations.
According to Brazilian media reports, the Brazilian Embassy in the United States formally notified the U.S. Trade Representative's Office that Brazil will initiate corresponding procedures under the Economic Reciprocity Law in response to the high tariffs imposed by the U.S. on Brazilian goods.
"We have to tell the United States that we also have actions we can take against them," Lula said in an interview in Minas Gerais on Aug. 29.
Brazil is willing to engage in dialogue "24 hours a day," but unfortunately, it has not yet been able to make contact with high-level U.S. officials. Brazil has already requested consultations with the World Trade Organization regarding the U.S. tariff actions, but as international procedures are lengthy, it is necessary to simultaneously advance domestic legal mechanisms.
On July 30 local time, the White House announced that U.S. President Donald Trump had signed an executive order imposing an additional 40% tariff on Brazil, bringing the total tariff to 50%.
Related News:
US cancels exemption on small package tariffs: Canadian SMEs fear closure within 6 months
Comment