Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
SAO PAULO, July 11 (Xinhua) — The United States' imposition of 50 percent tariffs on Brazilian imports could trigger the country's economic reciprocity law, President Luiz Inacio Lula da Silva said on Thursday.
If the 50 percent tariff goes into effect on August 1, the Brazilian government will invoke the provisions of the law while maintaining the possibility of negotiations, the president added.
"But if the negotiations fail, the law on economic reciprocity will be invoked. If he /D. Trump/ takes 50 percent from us, we will also take 50 percent from him," the Brazilian president said in an interview with the local television channel RecordTV.
For the past 15 years, Brazil has had a trade deficit with the United States, its second-largest trading partner, he said. –0–
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