Brazil's Finance Minister Fernando Haddad emphasized that Brazil should not be seen as a 'backyard' of any country and advocated for a 'mature' partnership with the United States following the U.S. Supreme Court's reversal of tariffs previously imposed by Trump.
On Saturday, Brazilian Finance Minister Fernando Haddad addressed the future of Brazil-U.S. relations, asserting that Brazil is 'too big to be a backyard' of any nation. His comments came in the wake of a U.S. Supreme Court ruling that overturned tariffs imposed by former President Donald Trump, which had affected a significant portion of Brazilian exports. This decision marked a crucial turn in international trade relations and Haddad's remarks underlined a desire for a more balanced and beneficial partnership between Brazil and the United States.
The Supreme Court's ruling on Friday determined that Trump's use of powers to impose tariffs breached statutory limits established in a 1977 law. As a result, the high tariffs that had imposed a 40% extra charge on 22% of Brazilian exports will now cease to be in effect. Following this, Trump announced a new global tariff of 10%, which would also apply to Brazilian goods. Despite these changes, Haddad assured that Brazil's competitiveness would remain intact and expressed optimism about the future of trade between the countries.
In addition to addressing tariffs, Haddad emphasized the importance of forming 'mature' partnerships that benefit all parties involved, not only with the United States but also with other regions like Asia and Europe. He suggested that Brazil is on the path to build stronger ties with the U.S., which would include mutual advantages rather than one-sided benefits, thus positioning Brazil as a significant player in the global market rather than a junior partner in foreign relations.
