Brazil will impose mirror tariffs on US goods from August 1 if the US leadership does not lift the previously announced 50% tariffs on Brazilian goods by that date.
This was announced by the leader of the South American republic, Luiz Inácio Lula da Silva.
“If there is no decision from the US to lift tariffs, we will move to the principle of reciprocity from August 1“, the head of state said in an interview with the local newspaper Jornal Nacional.
US President Donald Trump was irritated by the BRICS summit held in Rio de Janeiro, which prompted him to impose import tariffs on goods from Brazil. This is reported by Politico, citing its sources.
According to their information, although the American leader is mainly dissatisfied with the way the Brazilian authorities act in relation to the previous president of this South American country, Jair Bolsonaro, it was the Brazilian BRICS summit that "overflowed the cup of patience". The biggest irritant for Trump is the desire of the BRICS countries to de-dollarize trade.
On July 8, the American president said that the White House "very soon" would impose import tariffs of 10% on the BRICS countries. According to him, BRICS seeks to "destroy the dollar", the loss of the dollar's status as a world reserve currency is tantamount to "losing the war", and the United States does not want to allow this.
On July 9, Donald Trump said that the country's authorities were imposing a 50% tariff on Brazilian goods due to a deficit in bilateral trade.