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BRAZIL: Lula Says Brazil Will Respond To Any US Tariffs, BCB's Galipolo Speaks

BRAZIL
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  • Finance Minister Haddad said yesterday that the way the US government has announced tariffs has been confusing. He reiterated that the Brazilian government has adopted a wait and see approach to tariffs, emphasising that the trade balance between the two countries is relatively stable and favourable to the US. Meanwhile, VP Alckmin repeated that the government is studying the tariffs to discuss the matter with the US.
  • Currently, President Lula is giving an interview with local radio, in which he has stated that the government will respond to any US tariff action against Brazil and will seek WTO support if there are any tariffs put on the country’s steel exports. Earlier this week, VP Alckmin said that trade quotas could be a potential alternative to US tariffs on steel and aluminium.
  • No macro data are due today, with focus turning to December economic activity figures on Monday, which will be released after the latest BCB focus survey. Meanwhile, BCB Governor Galipolo is due to speak at an event with business leaders of Sao Paulo state at 1300GMT(0800ET) today. Elsewhere, President Lula will attend a public event to announce COP30 investments at 1400GMT(0900ET). 
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  • Finance Minister Haddad said yesterday that the way the US government has announced tariffs has been confusing. He reiterated that the Brazilian government has adopted a wait and see approach to tariffs, emphasising that the trade balance between the two countries is relatively stable and favourable to the US. Meanwhile, VP Alckmin repeated that the government is studying the tariffs to discuss the matter with the US.
  • Currently, President Lula is giving an interview with local radio, in which he has stated that the government will respond to any US tariff action against Brazil and will seek WTO support if there are any tariffs put on the country’s steel exports. Earlier this week, VP Alckmin said that trade quotas could be a potential alternative to US tariffs on steel and aluminium.
  • No macro data are due today, with focus turning to December economic activity figures on Monday, which will be released after the latest BCB focus survey. Meanwhile, BCB Governor Galipolo is due to speak at an event with business leaders of Sao Paulo state at 1300GMT(0800ET) today. Elsewhere, President Lula will attend a public event to announce COP30 investments at 1400GMT(0900ET).