Brazil Congress approves law to counter Trump tariffs
The Hindu
Brazilian Congress approves Economic Reciprocity Law in response to Trump's tariffs, aiming to protect national interests in trade.
Brazil's Congress on Wednesday (April 2, 2025) approved a law allowing the executive to respond to trade barriers, after U.S. President Donald Trump announced a 10% tariff on exports from Latin America's biggest economy.
The so-called "Economic Reciprocity Law" was approved unanimously by the House of Representatives after receiving the Senate green light on Tuesday.
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The Foreign Ministry, meanwhile, said in a statement it "regrets" the additional tariffs announced by Mr. Trump on imports from Brazil and other trading partners around the world.
"The Brazilian government is evaluating all possible actions to ensure reciprocity in bilateral trade, including recourse to the World Trade Organization," it said.
The South American powerhouse is the second-largest exporter of steel to the United States after Canada, shipping four million tonnes of the metal in 2024.
President Luiz Inacio Lula da Silva told reporters in Tokyo last week his country "cannot stand still" in the face of Trump's trade tariffs.
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