Brazil will analyze which industries have been affected by U.S. tariffs and estimate their economic impact before deciding whether to retaliate. File Photo by Antonio Lacerda/EPA
BRASILIA, Brazil, Aug. 14 (UPI) -- Brazil has formally launched an economic reciprocity process in response to unilateral tariffs imposed by the Trump administration -- a move that could lead to trade and regulatory countermeasures targeting U.S. goods and services.
The procedure marks the first formal action by President Luiz Inacio Lula da Silva's government after the United States imposed a 25% tariff on Brazilian exports.
In a statement Thursday, Brazil's Foreign Ministry said it will notify the U.S. government of the decision and request direct diplomatic consultations, opening a 60-day period for bilateral negotiations.
The goal is to mitigate or eliminate the effects of measures and potential countermeasures covered by Brazil's Economic Reciprocity Law, Agencia Brasil reported.
