The US imposes a 25% tariff on Brazil from July 22; Lula’s government rejects a “capitulation” demand and readies a legal defense and retaliation.
BRAZIL · TRADE
Key Facts
—Legal defense: Brazil has filed its Section 301 defense; the bank lobby ABBC and central-bank chief Gabriel Galípolo reject the US “Pix versus credit cards” complaint.
—Retaliation: Brasília is weighing tariffs on US audiovisual royalties and pharmaceutical patents, and braces for a possible further 12.5%.
—Support package: Vice President Alckmin and Finance Minister Haddad announced a package for exporters, without figures yet.
Brazil Condemns U.S. Decision to Impose 25% Tariffs, Vows to Retaliate
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