Brazil's Haddad: Brazil, US talks happening at staff level

Brazil's Haddad: Brazil, US talks happening at staff level

Brazil's Finance Minister, Fernando Haddad, has indicated that negotiations between Brazil and the United States are ongoing at the staff level. This comes amidst escalating tensions over potential tariffs imposed by the U.S. on Brazilian goods, which are set to take effect on August 1 [1].

Haddad emphasized that while direct talks with U.S. officials have been challenging due to the unpredictability of President Donald Trump's administration, Brazil remains committed to negotiations. The minister stated that the government's technical team has completed a contingency plan to mitigate the impact of the tariffs [2].

The contingency plan, which is yet to be finalized, is expected to be presented to President Lula next week. Haddad noted that the measures aim to minimize fiscal impact and may include emergency credit lines for sectors affected by the tariffs. The minister also mentioned that Brazil is exploring new trade agreements, particularly with Mexico, to diversify its trade partnerships [2].

Brazil has also taken steps to strengthen its ties with Mercosur and other countries, including Canada, the United Arab Emirates, South Korea, Indonesia, and Vietnam. The government aims to use its rotating presidency of Mercosur to engage with interested countries and sign new free trade agreements [2].

Despite the ongoing negotiations, Brazil has filed a complaint at the World Trade Organization (WTO) over the new tariffs. This move is seen as both a symbolic and necessary step to defend the multilateral trading system, although it is unlikely to produce concrete results due to the WTO's weakened role [2].

References:

[1] https://www.tradingview.com/news/te_news:472480:0-ibovespa-falls-as-tariff-fears-mount/
[2] https://valorinternational.globo.com/foreign-affairs/news/2025/07/24/brazil-finalizes-tariff-plan-seeks-trade-deal-with-mexico.ghtml