Brazilian Government: Will Defend Domestic Manufacturers' Interests After US Imposes New Tariffs
The Brazilian government reported that the new US tariffs violate obligations under the WTO rules and will defend domestic manufacturers' interests.
The notification pointed out that the Brazilian government regrets the new 10% tariff imposed by the US government on Brazilian goods starting April 2, which is a new measure like the existing tariffs on cast steel, cast aluminum, and the automotive industry. This violates the obligations the US has undertaken with the WTO.
The notification added that after consultations with the private sector, the Brazilian government will seek to protect domestic manufacturers' interests.
The notification stated that it still welcomes dialogue with the US to lift the announced tariffs as soon as possible. Meanwhile, the Brazilian government will also consider all feasible countermeasures, including appealing to the WTO to protect national legitimate interests.
US President Trump announced the imposition of "reciprocal tariffs" on imports from other countries, with a minimum basic rate of 10%. However, the tax for each country will be determined separately, amounting to half of the taxes levied by companies importing US goods. Trump believes this will become the US's "Declaration of Independence" in the economy, helping to repay trillions of dollars of national debt.
Original article: https://www.toutiao.com/article/1828348132211715/
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