Brazilian President Luiz Inacio Lula da Silva has criticized the new trade policies of the US, including the 25 tariffs on steel and aluminum imports from all countries and the reciprocal tariffs set to be implemented on April 2, according to media reports.
President Lula da Silva stated during a press conference in Tokyo that US President Donald Trump should reconsider his decision that has the potential to harm the US and global economies. “It will raise the prices of goods and could lead to inflation that he has not yet realized. Protectionism does not help any country in the world. I am concerned because free trade is being harmed,” Lula da Silva stated.
Even though the Brazilian authorities have been in negotiations with the US since the inception of new steel tariffs on March 12, Brazil has so far failed to convince the US government to return to the quota system in exports.
“We have two decisions to make. One is to appeal to the World Trade Organization, which we will do, and the other is to impose higher tariffs on American products. We cannot just stay quiet,” Lula da Silva added.