Brazil to Engage in Tariff Negotiations with U.S. Following New Trade Measures

According to Odaily, following the U.S. announcement to impose a 50% tariff on Brazilian goods starting August 1, Brazilian President Luiz Inácio Lula da Silva stated on July 10 that Brazil will engage in tariff negotiations with the United States. If these negotiations prove ineffective, Brazil plans to implement reciprocal countermeasures. President Lula emphasized that Brazil will prioritize tariff discussions and intends to file a lawsuit against the U.S. unilateral tariff increase at the World Trade Organization. He further noted that if negotiations fail, Brazil will enact reciprocal measures under the country's Economic Reciprocity Law, imposing a 50% tariff on U.S. imports.