Brazilian President Lula says no immediate retaliatory tariffs against US, urges trade negotiations

Brasilia [Brazil], August 30 (ANI): Brazil's President Luiz Inacio Lula da Silva on Friday said his government will not immediately impose retaliatory tariffs on the United States, Al Jazeera reported. He reiterated his call for US President Donald Trump to engage in trade negotiations.
Currently, Brazil faces 50 per cent tariffs on all exports to the US, the highest of any country except India. While Brazil has not yet responded in kind, its Chamber of Foreign Commerce (CAMEX) began exploring whether countermeasures could be applied under local law, Al Jazeera added.
"This is a process that takes a bit of time," Lula said in an interview with Radio Itatiaia. "We have to tell the United States that we also have actions we can take against them. But I am in no rush. What I want is to negotiate."
Since August 1, the US has imposed the tariffs as part of Trump's pressure campaign linked to the trial of former Brazilian President Jair Bolsonaro, who is accused of allegedly scheming to overturn the 2022 election results. Bolsonaro has denied wrongdoing and called the proceedings political persecution, which Trump has echoed.
In a July 9 letter to Lula, Trump wrote, "This trial should not be taking place. It is a Witch Hunt that should end IMMEDIATELY!" and warned against retaliatory measures, adding, "If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 50% that we charge," Al Jazeera reported.
Lula has described the US actions as interference in Brazil's legal process. On August 11, his government filed a complaint with the World Trade Organisation, claiming the US violated international agreements by imposing the 50 per cent tariff. The US has since agreed to a consultation process with the international body, Al Jazeera added.
On Thursday, Brazil's Foreign Ministry authorized CAMEX to explore whether a reciprocity law could be used to implement retaliatory measures. Lula said, "I took this measure because we have to move forward with the process. If we proceed as required by law, it will take a year."
Lula emphasised that Brazil is open to negotiations with the US but will not compromise its sovereignty. "For now, Brazil is open to negotiations with the US," he said. "What's different is that Brazil doesn't need to bow its head to the US." (ANI)