Brazilian President Luiz Inácio Lula da Silva has authorized the initiation of economic countermeasures against the United States. This move is a direct response to the 50% tariffs imposed on Brazilian products at the beginning of August, as reported by major Brazilian media outlets.
The action will be coordinated by the country’s Foreign Ministry and Chamber of Commerce. These bodies have been tasked with producing a technical report within 30 days to evaluate the application of the Economic Reciprocity Law. This legislation was approved by the Brazilian Parliament in April and signed into law by President Lula in July.
The law stipulates that in cases where Brazil’s international competitiveness is violated, proportional measures may be adopted on goods, services, and intellectual property. It enables Brazil to treat foreign citizens and governments according to the principle of reciprocity. This framework allows for retaliatory actions in areas including trade, investments, intellectual property rights, and diplomatic matters.
The initiative aims to defend Brazilian competitiveness and ensure the respect of the South American nation’s economic interests on the international stage.