‘If he charges 50%, we will charge 50%’: Brazil has taken ventilative action when the services fail; What is mutual law? , world News
Brazilian President Luiz Eneasio Lula da Silva on Wednesday announced his plans to implement 50% tariff on Brazil’s imports.Trump’s letter addressed President Luiz Inecio Lula Da Silva, saying that Tariffs would start on August 1, which will be in a dialect to provide “level sports ground” in the current Brazilian government for unjust criminal trial against its former President Zayer Bolsonaro in the present Brazilian government. Lula said he would be forced to trigger Brazil’s Economic Emergency Act approved by the Congress if the US fails to talk. He said, “If there is no interaction, the mutuality law will be kept to work. If he charges 50 (% tariff) with us, we will charge 50 from them,” AP said citing Brazilian media outlets. What is Brazil’s economic reciprocity law?Signed by President Luiz Enecio Lula da Silva on 14 April this year, the “Economic Emergency Act” of Brazil, allows Brazil to be suspended by other countries in response to unilateral measures by other countries to suspend business, investment and intellectual property concessions or damage its competition. Law by Brazil is a strategic reaction to address the tariff presented by the Trump administration against several countries.Lula posted in a tweet on X, “The people of Brazil should be respected. Brazil’s justice should be respected. We are a great, sovereign country with the historical tradition of diplomacy with all countries. Brazil will adopt the necessary measures to protect their people and their companies.”Regarding the efforts of the former President to maintain power after his defeat in the 2022 election of Brazil, Trump publicly opposed criminal proceedings against Bolsoro. Lula decisively responded, told reporters on Monday, “I think it is very wrong and very irresponsible for a president to threaten others on social media. People will have to learn that respect is a good thing.” He further commented about Trump, “he has to know that the world has changed. We do not want an emperor. ,Lula’s remarks increased the risk of a possible tariff war between the two countries, with Trump a strong vengeance response to any punitive tariff imposed in the US.
