Brazil to hold off on US tariff reciprocity as trade talks continue
Brazil does not intend to use its reciprocity law against the United States over tariffs imposed by Washington while negotiations continue, President Luiz Inacio Lula da Silva said on Monday. Speaking via translator in an interview with CNN International's Christiane Amanpour, Lula said Brazil could still reciprocate if trade talks fail.
(Adds details, context in paragraphs 3-6) BRASILIA, Sept 21 (Reuters) — The Brazilian government does not intend to use its reciprocity law against the United States over tariffs imposed by Washington while negotiations continue, President Luiz Inacio Lula da Silva said on Monday. Speaking via translator in an interview with CNN International's Christiane Amanpour, Lula said Brazil could still reciprocate if trade talks fail. "I think those tariffs were based on lies," Lula said. 5% tariffs on goods from dozens of nations, including Brazil, linked to allegations of lax enforcement of forced labor bans.
Brazil then opened a process that could result in reciprocal measures against Washington in August. Brazilian officials have called the higher levies unjustified and arbitrary. During an August call with US President Donald Trump, Lula said negotiations were the best way to resolve the dispute. com;)