Lula, Modi fight US tariffs
(MENAFN) Brazilian President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi reaffirmed their commitment to multilateralism and fair trade during a recent phone call amid rising U.S. tariffs, according to Brazil’s government.
The leaders discussed the global economic situation and escalating trade tensions, emphasizing the need to address current challenges together and deepen bilateral cooperation.
The talks follow U.S. President Donald Trump’s decision to impose a 50% tariff on Brazilian goods on July 30, citing the prosecution of former President Jair Bolsonaro and labeling Brazil a threat to U.S. security. Brazil condemned the tariffs as unlawful interference, with China also condemning the U.S. for “bullying.”
On Wednesday, Trump announced a 50% tariff on Indian imports over its oil trade with Russia. India criticized the move as unfair and vowed to protect its interests. Trump has accused BRICS members of attempting to weaken the U.S. dollar and threatened further tariffs, which BRICS rejects, pointing to U.S. policies as the real threat.
Since its formation in 2006, BRICS — comprising Brazil, Russia, India, China, and South Africa — has grown economically to surpass the G7. Trump has also threatened tariffs on Russia’s trade partners to pressure Moscow over Ukraine, but Russia maintains that sovereign nations have the right to choose their trading partners.
Lula told Reuters he intends to propose a BRICS summit to coordinate a collective response to U.S. trade actions.
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