Key Takeaways
- Brazil will respond to the U.S. tariff increase with a contingency plan.
- The country will take its case to the World Trade Organisation to defend its interests.
- Brazil’s President Lula da Silva has described the U.S. trade move as ‘unjust’ and highlighted Brazil’s progress on the international stage.
Brasilia: Brazil will respond to a steep tariff increase imposed by the United States with a contingency plan and take its case to the World Trade Organisation (WTO), President Luiz Inacio Lula da Silva said.
During a meeting of the Council for Sustainable Economic and Social Development held in Brasilia, the president depicted the U.S. trade move as “unjust” and highlighted Brazil’s progress on the international stage.
“The government’s commitment is to the Brazilian people. We will implement a contingency plan to mitigate this unjust attack, and alleviate its economic and social damage,” Lula said yesterday.
“We will protect Brazilian workers and companies affected by these measures and will resort to all available mechanisms, including the World Trade Organisation, to defend our interests,” Lula told business leaders, union organisers, agricultural representatives and members of civil society.
Brazil continues to pursue negotiations, he said, noting that talks with U.S. authorities have been underway since March.
Brazil will officially announce its response to the tariff increase on Aug. 18, when its foreign ministry files a request with the WTO to challenge the measure adopted by the United States.
