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Lula opens a U.S. tariff fight with big tech in the crosshairs

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yesterday

Lula opens a U.S. tariff fight with big tech in the crosshairs

Brazilian President Luiz Inácio Lula da Silva said Friday his government has triggered an economic reciprocity law mechanism against U.S.-imposed tariffs, saying the move was intended to show his nation must be respected.

In July, U.S. President Donald Trump imposed tariffs on hundreds of Brazilian exports, with duties reaching up to 37.5% in some products. The Trump administration has accused Brazil of unfair trade practices, but Lula has denied the accusations, insisting they are politically motivated ahead of the October election.

Lula is seeking reelection against Sen. Flávio Bolsonaro, a Trump ally who met with U.S. officials, including Trump, in Washington weeks before the administration proposed higher tariffs on Brazilian goods.

“Yesterday, we invoked the reciprocity law to show that we are not to be taken........

© Fortune