{"id":35359,"date":"2025-08-18T20:13:13","date_gmt":"2025-08-18T20:13:13","guid":{"rendered":"https:\/\/financialrush.com\/?p=35359"},"modified":"2025-08-18T20:13:13","modified_gmt":"2025-08-18T20:13:13","slug":"brazil-deadlocked-with-us-over-50-tariffs-finance-minister-says","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=35359","title":{"rendered":"Brazil deadlocked with US over 50% tariffs, finance minister says"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=a2949b32-71e9-43fd-a749-5e183e273552\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Brazil has reached an impasse with the US over the record tariffs it has imposed on the South American nation, its finance minister Fernando Haddad has said, insisting a solution depends more on Washington\u2019s willingness to resolve the issue.<\/p>\n<p>The US imposed <a href=\"https:\/\/www.ft.com\/content\/906832fc-1b57-4042-b5fb-44618a64c35d\" data-trackable=\"link\">50 per cent tariffs<\/a> on most Brazilian exports after President Donald Trump accused the country of conducting a \u201cwitch-hunt\u201d against his ally, far-right former president Jair Bolsonaro, and demanded his supreme court trial be halted.<\/p>\n<p>\u201cThe US is trying to impose on <a href=\"https:\/\/www.ft.com\/brazil\" data-trackable=\"link\">Brazil<\/a> a solution which is constitutionally impossible,\u201d Haddad said in an interview at an <a href=\"https:\/\/fosteringgrowth.live.ft.com\/\" data-trackable=\"link\">FT Live-Times Brasil\/CNBC<\/a> conference in S\u00e3o Paulo. \u201cAn impasse has been reached, it\u2019s a request which cannot be fulfilled.\u201d<\/p>\n<p>Haddad noted that under Brazil\u2019s constitution, the supreme court is independent of the government.<\/p>\n<p>The minister had scheduled a virtual meeting with US Treasury secretary Scott Bessent last week to discuss the tariffs but Washington cancelled the call. The Treasury department declined to comment.<\/p>\n<p>Shortly afterwards Bessent appeared in a photograph <a href=\"https:\/\/x.com\/BolsonaroSP\/status\/1956445889071063290\" data-trackable=\"link\">posted on social media<\/a> with <a href=\"https:\/\/www.ft.com\/content\/811e3add-7b3b-40bf-8698-bd18730f0869\" data-trackable=\"link\">Eduardo Bolsonaro<\/a>, the former president\u2019s son. The Brazilian lawmaker has been lobbying for months in Washington for sanctions against the judges trying his father on charges of organising a military-backed coup in January 2023. <\/p>\n<p>\u201cWe knew that the [Brazilian] far-right might mobilise in the US,\u201d Haddad said of his failed virtual meeting with Bessent.<\/p>\n<p>Asked about how the impasse could be resolved, Haddad said: \u201cTo have a channel [for dialogue], you need an opening on this side and an opening on the other side. The one on this side is open\u2009.\u2009.\u2009.\u2009it depends more on the other side than on our side.\u201d<\/p>\n<p>Luiz In\u00e1cio Lula da Silva, Brazil\u2019s leftwing president, has been posting nationalistic videos and rejecting what he calls \u201cunacceptable interference\u201d in Brazil\u2019s sovereignty since the US announced the tariffs. His popularity has risen since the confrontation began, but business leaders are anxious for the government to engage with the White House.<\/p>\n<p>A poll published by the Folha de S\u00e3o Paulo newspaper last weekend showed 35 per cent of respondents blamed Lula for the dispute, with 22 per cent blaming Jair Bolsonaro and 17 per cent his son Eduardo. Just 15 per cent blamed the judge overseeing the case, <a href=\"https:\/\/www.ft.com\/content\/a193f687-e38c-48b0-9558-626584f17245\" data-trackable=\"link\">Alexandre de Moraes<\/a>.<\/p>\n<p>\u201cWhat President Lula has been saying is this: \u2018I don\u2019t feel any willingness to talk on [the part of] the other side,\u2019\u201d Haddad said. \u201cWhether you like Lula or not, he is possibly the head of state who knows the most people in the world. He talks to everyone.\u201d<\/p>\n<p>Asked how Brazil could diversify its trade relations amid growing US protectionism, Haddad said he believed the EU and the South American Mercosur bloc would soon finalise a long-awaited landmark trade deal. <\/p>\n<p>\u201cBy the end of the year, I believe it will be possible,\u201d said the politician charged with overseeing Latin America\u2019s biggest economy.<\/p>\n<p>The EU and Mercosur, which includes Argentina, Brazil, Paraguay and Uruguay with Bolivia in the process of entering the bloc, concluded talks at the end of last year on the blockbuster trade deal, which would create a market of 700mn people. <\/p>\n<aside aria-labelledby=\"aside-label\" class=\"n-content-recommended--single-story n-content-recommended--inset\" data-component=\"recommended\">\n<p class=\"n-content-recommended__title o3-type-body-highlight\">Recommended<\/p>\n<div class=\"o-teaser o-teaser--article o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser\" data-id=\"7f6bbdc8-c4aa-48b9-94cb-5d6b58af66fd\">\n<div class=\"o-teaser__image-container js-teaser-image-container\"><a href=\"https:\/\/www.ft.com\/content\/7f6bbdc8-c4aa-48b9-94cb-5d6b58af66fd\" data-trackable=\"image-link\" data-trackable-context-story-link=\"image-link\" tabindex=\"-1\" aria-hidden=\"true\"><\/p>\n<div class=\"o-teaser__image-placeholder\" style=\"aspect-ratio:2048\/1152\"><\/div>\n<p><\/a><\/div>\n<\/div>\n<\/aside>\n<p>However, it must still overcome resistance to the pact from France and other nations, which are worried about the impact on European farmers, and obtain final approval from the EU\u2019s 27 member states.<\/p>\n<p>Haddad said Lula had spent as much time dealing with his French counterpart Emmanuel Macron as with fellow members of the Brics group of developing nations, of which Brazil is a founding member.<\/p>\n<p>\u201cPresident Lula manages the Brics [relationships] as much as he does the European Union agreement,\u201d said Haddad.<\/p>\n<p>\u201c[He] has been much more vocal with Macron \u2014 much more so. The president has been talking to Macron almost quarterly for two years.\u201d<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.ft.com\/content\/a2949b32-71e9-43fd-a749-5e183e273552\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this&hellip;\n","protected":false},"author":6,"featured_media":35360,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-35359","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/35359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35359"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/35359\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/35360"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}