Brazilian President Says He Will Reciprocate the United States' 50% Tariff
Powered by ChatGPTAccording to CCTV International News, Brazilian President Lula responded to Trump's statement that he would impose a 50% tariff on products imported from Brazil starting August 1st, saying that the claim that "the United States has a trade deficit with Brazil" is pure misinformation. Official U.S. statistics show that the United States has accumulated a surplus of $4100 billion in trade in goods and services with Brazil over the past 15 years. Given this situation, any unilateral tariff increase will be met with a reciprocal response in accordance with Brazil's Commercial Reciprocity Law. "National sovereignty, mutual respect, and the firm defense of the interests of the Brazilian people have always been the core principles of Brazil's handling of international relations." [Foresight News]