Brazil’s Lula Vows to Diversify Trade Partners Amid US Tariff Threats

Brazilian President Luiz Inácio Lula da Silva declared his nation's capacity to withstand economic pressure from the United States following former President Donald Trump's threat to impose 50% tariffs on Brazilian imports. During a televised interview, Lula emphasized that US trade accounts for just 1.7% of Brazil's GDP, suggesting minimal disruption to the South American economy.

The Brazilian leader reinforced his call for de-dollarization during the recent BRICS summit, urging global partners to develop alternatives to USD-dominated trade. This stance aligns with his administration's strategy to cultivate new commercial alliances beyond traditional Western markets.

The tariff warning from TRUMP reportedly stems from political tensions surrounding Brazil's former President Jair Bolsonaro. The proposed levies exceed previously announced measures from April, coinciding with BRICS nations' vocal opposition to protectionist trade policies.