Brazilian President, Luiz Lula da Silva has denounced what he called “tariff blackmail” as the south American giant deals with a 50 percent import charge imposed by US counterpart Donald Trump.
Recall that Brazil’s exports to the United States plunged 18.5 percent year-on-year in august after trump slapped his highest level of trade tariff on a range of goods from Latin America’s biggest economy.
However, Trump is punishing Brazil for what he calls a “witch hunt” against his ally, former far-right President Jair Bolsonaro, who is on trial for allegedly plotting a coup to take power back from Lula, who defeated him in the October 2022 elections.