Reference News, July 12 report - According to the Brazilian news agency on July 11, Brazilian President Lula emphasized on July 11 that the Brazilian government has the support of the Brazilian people to deal with the economic sanctions from the U.S. government, and stated that Brazil will not "bow" to Trump's extortion and threats.
Lula made these remarks at an event in Espírito Santo state. He said, "This country will not bow to anyone. No one can make this country afraid with words and bluffing. No one. I believe that in this regard, we will get the support of the Brazilian people who do not accept any provocation."
The report states that various sectors of Brazilian society, including business organizations, labor organizations, media, parliament, and social movements, have been criticizing the Trump administration's measures of imposing a 50% tariff on all Brazilian products.
Lula once again emphasized that if negotiations with Washington fail, Brazil will respond to Trump's tax increases according to the Economic Equivalence Law. Trump wrongly claimed that the U.S. has a trade deficit with Brazil, a claim that has been refuted by U.S. data itself. "Including trade and services, we have a $41 billion deficit with the U.S. over 10 years. It is us who should be taxed," Lula said, and called Trump "misinformed."
Analysts interviewed by the Brazilian news agency said that Trump's sanctions against Brazil are political blackmail targeting the BRICS countries and the regulation of major technology companies, as well as an attempt to interfere in Brazil's internal judicial and political processes. (Translation/ Han Chao)
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