Lula downplays impact of Trump’s tariffs: “Reserves bring peace of mind to Brazil”
“Even if Trump says whatever he wants, Brazil is safe,” said President Lula
247 – President Lula stated this Monday (7) that Brazil’s international reserves will ensure stability, even in the face of the trade tariffs announced last week by U.S. President Donald Trump.
“Even if Trump says whatever he wants, Brazil is safe because there’s a $350 billion cushion that gives peace of mind to Brazil and to Fernando Haddad [Minister of Finance],” Lula said during a visit to Mercado Livre’s logistics center in Cajamar, in the São Paulo metropolitan area.
U.S. customs officials began charging Trump’s unilateral 10% tariff on imports from many countries on Saturday. Brazil was subject to the base 10% tariff.
Investments – Mercado Livre plans to invest R$34 billion this year in Brazil, its main market, announced Fernando Yunes, the company’s Senior Vice President and head of marketplace operations in Brazil, during the event.