The Japan Times - Lula says if Trump hikes tariffs, Brazil will reciprocate

EUR -
AED 3.822672
AFN 80.1383
ALL 99.756393
AMD 414.137764
ANG 1.874666
AOA 949.168589
ARS 1094.11536
AUD 1.673577
AWG 1.875962
AZN 1.773861
BAM 1.957644
BBD 2.100179
BDT 126.849507
BGN 1.952998
BHD 0.392226
BIF 3045.771018
BMD 1.040756
BND 1.405723
BOB 7.187772
BRL 6.112666
BSD 1.04018
BTN 90.074861
BWP 14.416543
BYN 3.403761
BYR 20398.808117
BZD 2.089368
CAD 1.508304
CDF 2969.27555
CHF 0.946187
CLF 0.037125
CLP 1024.384441
CNY 7.465968
CNH 7.573208
COP 4335.006914
CRC 527.802324
CUC 1.040756
CUP 27.580021
CVE 110.475858
CZK 25.131107
DJF 184.963108
DKK 7.461676
DOP 64.267159
DZD 140.542576
EGP 52.278282
ERN 15.611333
ETB 131.021161
FJD 2.41539
FKP 0.857153
GBP 0.837148
GEL 2.99702
GGP 0.857153
GHS 15.933899
GIP 0.857153
GMD 75.459997
GNF 9008.779273
GTQ 8.050585
GYD 218.155529
HKD 8.108745
HNL 26.646365
HRK 7.680305
HTG 136.032277
HUF 407.265351
IDR 16916.075895
ILS 3.728501
IMP 0.857153
INR 90.12053
IQD 1363.389726
IRR 43815.807022
ISK 145.965739
JEP 0.857153
JMD 164.096175
JOD 0.738204
JPY 160.578686
KES 134.774111
KGS 91.014096
KHR 4183.836721
KMF 492.121273
KPW 936.68008
KRW 1503.04844
KWD 0.320979
KYD 0.866817
KZT 539.578347
LAK 22636.431843
LBP 93251.693872
LKR 309.501588
LRD 204.509574
LSL 19.305879
LTL 3.07308
LVL 0.629543
LYD 5.109905
MAD 10.402866
MDL 19.357237
MGA 4881.143701
MKD 61.392307
MMK 3380.333319
MNT 3536.487356
MOP 8.347044
MRU 41.474351
MUR 48.280249
MVR 16.02206
MWK 1806.239447
MXN 21.559209
MYR 4.56896
MZN 66.502957
NAD 19.306337
NGN 1589.756105
NIO 38.278534
NOK 11.782284
NPR 144.119778
NZD 1.845311
OMR 0.400677
PAB 1.04018
PEN 3.864846
PGK 4.165623
PHP 60.718677
PKR 289.947797
PLN 4.204935
PYG 8211.736438
QAR 3.789651
RON 4.975231
RSD 117.111035
RUB 102.515963
RWF 1450.292812
SAR 3.903458
SBD 8.783372
SCR 14.848657
SDG 625.493982
SEK 11.492361
SGD 1.406352
SHP 0.857153
SLE 23.807259
SLL 21824.122713
SOS 594.80322
SRD 36.535762
STD 21541.537908
SVC 9.101837
SYP 13531.903206
SZL 19.306028
THB 34.982919
TJS 11.337891
TMT 3.642644
TND 3.317409
TOP 2.437553
TRY 37.230562
TTD 7.055715
TWD 34.197184
TZS 2646.983717
UAH 43.465302
UGX 3832.610778
USD 1.040756
UYU 45.133822
UZS 13509.006478
VES 60.254081
VND 26102.148345
VUV 123.560585
WST 2.914976
XAF 656.581887
XAG 0.032929
XAU 0.000372
XCD 2.812694
XDR 0.795092
XOF 655.158179
XPF 119.331742
YER 259.01801
ZAR 19.264223
ZMK 9368.048619
ZMW 29.07239
ZWL 335.122852
  • RBGPF

    2.7100

    64.91

    +4.18%

  • RYCEF

    0.0700

    7.45

    +0.94%

  • CMSD

    0.1600

    24.22

    +0.66%

  • RELX

    1.1100

    50.35

    +2.2%

  • CMSC

    0.0700

    23.68

    +0.3%

  • BCC

    2.3400

    128.66

    +1.82%

  • SCS

    0.0700

    11.64

    +0.6%

  • RIO

    1.1900

    60.91

    +1.95%

  • JRI

    -0.0200

    12.57

    -0.16%

  • NGG

    0.9700

    61.74

    +1.57%

  • VOD

    0.0600

    8.61

    +0.7%

  • BCE

    0.2000

    23.9

    +0.84%

  • BTI

    0.4200

    39.68

    +1.06%

  • GSK

    0.3000

    35.36

    +0.85%

  • AZN

    0.9900

    71.24

    +1.39%

  • BP

    0.4800

    31.61

    +1.52%

Lula says if Trump hikes tariffs, Brazil will reciprocate
Lula says if Trump hikes tariffs, Brazil will reciprocate / Photo: EVARISTO SA - AFP

Lula says if Trump hikes tariffs, Brazil will reciprocate

Brazilian President Luiz Inacio Lula da Silva said Thursday that if US counterpart Donald Trump hiked tariffs on Brazilian products, he would reciprocate -- but that he would prefer improved relations over a trade war.

Text size:

The Latin American giant is one of the countries that Trump has threatened with higher tariffs.

"It's very simple: if he taxes Brazilian products, Brazil will reciprocate in taxing products that are exported from the United States," the 79-year-old Lula told a press conference.

Lula, currently in his third term, said he would prefer to "improve our relationship with the United States" and boost trade ties with Brazil's second-largest trading partner after China.

"I want to respect the United States and for Trump to respect Brazil. That's all," he said.

Citing Trump's comments that he plans to take back the Panama Canal or get control of Greenland, Lula said "he just has to respect the sovereignty of other countries."

Lula also underscored the global threats facing democracy.

"For me, democracy is the most important thing in humanity right now ... Either we keep democracy working or we will have states more authoritarian than Hitler and fascism."

Lula, whose country will host the COP30 UN climate talks in the Amazonian city of Belem in November, added that Trump's decision to withdraw from the Paris climate accord was "a step back for human civilization."

He said he did not want a summit where "measures are approved, everything looks very nice on paper and then no country complies," slamming wealthy nations for failing to meet previous promises to give billions of dollars to help developing nations deal with the fallout of climate change.

"We want something very real so that we can know if we are serious or not about the climate issue."

- Seizing back the narrative -

The president held a wide-ranging press conference in the capital Brasilia, urging journalists not to hold back in their questions as his government seeks to reclaim the narrative after battling a wave of disinformation.

After undergoing emergency surgery to stop a brain bleed in December linked to an earlier fall, Lula vowed he was fully recovered and had "the energy of a 30-year-old."

With less than two years left of his third presidential term, Lula's approval rating has sunk to 47 percent, according to a Quaest poll published this week, with a notable drop in support from his key electoral base in the low-income northeast of the country.

Lula said he was "not worried" about opinion surveys, and brushed off concerns about high interest rates and public debt.

As expected, the central bank on Wednesday hiked the key interest rate by one point to 13.25 percent, despite a new bank president being appointed by Lula -- who has in the past criticized interest rate hikes.

"The president of the central bank cannot make a U-turn in a stormy sea," Lula said, adding that he had faith in new bank chief Gabriel Galipolo who would have "autonomy to do whatever is necessary."

Lula also sought to ease concerns over government interventions to lower food prices and vowed his commitment to "fiscal responsibility."

His government is weighing reducing import tariffs on certain goods, and he highlighted the need to provide more financing to ramp up production, saying he was working on a plan with banks for "the largest credit program in the history of this country."

Concerns over Brazil's ability to curb public spending in December sent its currency, the real, to record lows against the dollar.

S.Fujimoto--JT