Brazilian senators back bill to impose retaliatory tariffs on US goods

Brazilian senators have introduced a legislative proposal that, if enacted, would enable the Brazilian government to impose retaliatory tariffs on US goods in response to US President Donald Trump’s steel and aluminum tariffs.

The initiative will soon be sent to the Chamber of Deputies, according to a statement from the Senate press office, Caliber.Az reports via foreign media.

One of the key provisions discussed in the Brazilian Senate includes the imposition of duties on goods from countries that have previously imposed restrictive measures on Brazilian exports. Additionally, if the bill becomes law, Brazil could suspend trade or investment concessions, as well as intellectual property-related agreements with those nations.

The legislative proposal now moves to the Chamber of Deputies for further debate. If approved by both chambers, the bill will be presented to President Luiz Inácio Lula da Silva for final approval, after which the Brazilian government will be empowered to retaliate against countries that have restricted Brazilian goods.

“This bill serves the country’s best interests, which is why it was drafted quickly,” said Senator Teresa Cristina da Costa Dias of the Progressive Party. “Brazil must have its own tools to defend against these restrictive measures.”

Earlier, Celso Amorim, Special Assistant to the Brazilian President for International Affairs, stated that Brazil would be prepared to implement measures targeting the US economy if diplomatic negotiations to lift the tariffs fail.

Brazilian Vice President Geraldo Alckmin, also the Minister of Development, Industry, Commerce, and Services, expressed support for the Senate’s efforts to create a legal framework for trade defense. "Brazil wants to expand its commerce based on reciprocity and competitiveness," he stated.

“However, I must emphasize that dialogue and economic complementarity are the key,” he continued. “We could even broaden our partnerships moving forward.”

The committee's approval came just a day before US President Donald Trump is expected to announce a new tariff package that could affect Brazilian exports.

By Tamilla Hasanova