Brazilian President signs decree on retaliatory measures to Trump's duties

Brazilian President Luiz Inacio Lula da Silva on Tuesday, July 15, signed a decree on the establishment of the committee for economic and trade negotiations, which allows suspending concessions to American entrepreneurs in the event that the United States imposes duties on Brazilian goods in the amount of 50% from August 1.

"As a first mission, the committee will seek to listen to the business sectors to determine the implications of the US president's announcement [Donald Trump] on the introduction of 50% tariffs on all goods imported from Brazil, starting on August 1," the president wrote on his page on the social network X (ex. Twitter).

The decree clarifies the mechanism for the entry into force of the law on economic reciprocity, which was previously adopted in Brazil in April this year. In addition, this document sets out possible measures for the Government's response to unilateral actions by other countries that negatively affect Brazil's competitiveness.

Trade war: The US increased duties on China to 104%

The Chinese authorities have already announced that they will take drastic measures in response to the tariffs of the American leader.

Earlier, on July 9, Trump imposed trade duties of 50% on goods from Brazil. The law will be put into effect on August 1.