01:15

Brazil: Trump's 'insane' move to impose new tariffs on Brazil threatens 150 years of good relations: economist

Content Partner Cover Image
Content Partner Profile Image
Uploaded by a Newsflare content partner

Buy video

U.S. President Donald Trump's pledge to impose 50 percent tariffs on all Brazilian products has sparked outrage in the South American country, with a prominent economist calling the move politically-motivated and a threat to long-standing good relations. The announcement came amid rising political tensions between the two countries. In a letter to Brazilian President Luiz Inacio Lula da Silva, Trump called for a halt to the trial of former president Jair Bolsonaro, who faces charges for allegedly leading an attempted coup following his defeat in the 2022 presidential election. Contrary to his earlier claim that tariffs would be a form of economic reciprocity, Trump implied that he was punishing Brazil for what he called a "witch hunt" against Bolsonaro. Economist Manoel Thedim, executive director of the Institute of Work and Society Studies (IETS), said the punitive tariffs are particularly baffling considering the actual balance of trade -- according to official data, the U.S. ran a 7.4 billion U.S. dollars trade surplus with Brazil in 2024. "You shouldn't use economic policies for political reasons. It is completely insane, it's technically awful. So it's a disaster for two countries who have been friends for the past 150 years," Thedim said. President Lula's chief of staff announced the formation of a task force to study Brazil's response, including possible retaliation and identifying new markets to offset potential losses, but said Brazil would keep diplomatic channels open hoping for a negotiation prior to August 1st when Trump's tariffs are set to take effect. SHOTLIST: Beijing, China - July 11, 2025 1. Screenshot of Brazilian President Luiz Inacio Lula da Silva's post on social media platform X; 2. Various of screenshot of U.S. President Trump's letter to Lula; Rio de Janeiro, Brazil - July 10, 2025 3. Various of interview in progress; 4. SOUNDBITE (English) Manoel Thedim, executive director, Institute of Work and Society Studies (IETS) (starting with shot 3/partially overlaid with shot 5): "You shouldn't use economic policies for political reasons. It is completely insane, it's technically awful. So it's a disaster for two countries who have been friends for the past 150 years."; [SHOT OVERLAYING SOUNDBITE] 5. Reporter listening; [SHOT OVERLAYING SOUNDBITE] FILE: Brasilia, Brazil - Date Unknown 6. Planalto Palace, or Brazilian presidential palace; 7. National flag of Brazil; FILE: Rio de Janeiro, Brazil - Sept 15, 2023 8. Various of vessel, containers, port facilities; FILE: Washington D.C., USA - Oct 2024 9. Various of White House; 10. Various of Capitol Hill, U.S. national flag; 11. Various of port scene, Statue of Liberty. [Restrictions: No access Chinese mainland]

Categories

Tags

From the blog

Stories not Stock: 3 Reasons Why You Should Use UGC Instead of Stock Video

Video content is an essential part of a brand’s marketing strategy, and while stock footage has been a reliable go-to in the past, forward-thinking companies are looking to user-generated content for their video needs.

View post
Content Partner Cover Image
Content Partner Profile Image
Uploaded by a Newsflare content partner

Buy video