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by IANS |
Brazil's Vice President Geraldo Alckmin has said that it was "unjust" for US President Donald Trump to impose a 50 per cent tariff on Brazilian products."I see no reason to increase tariffs on Brazil. Brazil is not a problem for the United States; it is important to reiterate that. The United States has a trade deficit, but a surplus with Brazil. Of the 10 products they most export to us, eight have a zero (tariff) rate, paying no taxes," Alckmin said in statements.
On Wednesday, Trump announced a 50 per cent tariff on Brazilian goods imported into the United States starting August 1.
Meanwhile, Brazilian President Luiz Inacio Lula da Silva said that any unilateral measure to raise tariffs will be responded to in light of Brazil's economic reciprocity law."In view of the public statement by US President Donald Trump presented on a social network Wednesday afternoon, it is important to emphasise: Brazil is a sovereign country with independent institutions that will not accept being tutored by anyone," Lula said on X."It is false information, in the case of the commercial relationship between Brazil and the United States, regarding the alleged American deficit. Statistics from the United States government itself confirm a surplus of that country in the trade of goods and services with Brazil in the amount of 410 billion dollars over the last 15 years," he said.
The Brazilian President also said that he will use Brazil's rotating presidency of the Southern Common Market, or Mercosur, to resume negotiations for a free trade agreement with Indonesia, Xinhua news agency reported.
Lula made the remarks during talks with visiting Indonesian President Prabowo Subianto.
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