Brazil-U.S. Tariff Talks Canceled, Says Finance Minister
Brazilian Finance Minister Fernando Haddad confirmed on Monday that his planned virtual meeting with U.S. Treasury Secretary Scott Bessent was canceled. The meeting had been scheduled for Wednesday.
The talks were intended to address tariffs imposed by the Trump administration, which raised duties on several Brazilian goods to 50%. Haddad said the cancellation was a setback for Brazil’s efforts to negotiate relief.
No New Date for Rescheduled Talks
Speaking to GloboNews TV, Haddad said no new date had been set, despite Brazil’s request to reschedule. He expressed frustration that Brazil could not even “sit at the table” with the U.S. to discuss tariffs.
The minister criticized what he called “pseudo-Brazilians” in Washington for lobbying against their own country.
Tariffs Linked to Bolsonaro Trial
The U.S. tariff hike has been tied to the trial of former President Jair Bolsonaro, a Trump ally, over alleged coup attempts following his 2022 election loss.
Bolsonaro’s son, Congressman Eduardo Bolsonaro, has been in the U.S. since March, advocating sanctions against those involved in the judicial proceedings.
Brazil to Seek New Trade Opportunities
Haddad said Brazil must explore other markets, pointing to Southeast Asia as a key growth region. He also called for urgent progress on the Mercosur-European Union trade deal.
Executive Order to Counter Tariff Impact
Haddad announced that the government will soon issue an executive order to mitigate the effects of higher U.S. tariffs. The package will include:
- Structural reforms to Brazil’s Export Guarantee Fund (FGE).
- Support for government purchases and credit measures.
The minister emphasized that there is no single solution for the roughly 10,000 Brazilian companies affected, so the response will be multi-pronged.
