House approves reciprocity law in response to Trump’s tariffs
The House of Representatives approved, on Wednesday (2), the Reciprocity Law, a project that allows the Brazilian government to adopt trade retaliation measures against countries or blocks that impose barriers to products from Brazil. The text was symbolically approved by parliamentarians, after the PL proposed an agreement that removed the project obstruction, in exchange for the closing of the session.
The bill had already been approved by the Senate on Tuesday (1st) and now goes to the sanction of President Luiz Inacio Lula da Silva (PT).
Trump tariffs can cause shock as an oil crisis, says Larry Summers
Former US Treasury Secretary warns of severe impacts on inflation, employment and investment if new tariffs are implemented
Tariff, Debt and War Threat: See the crises between Brazil and Paraguay by Itaipu
Case of Espionage of Paraguayan authorities by Abin is just another chapter in a troubled relationship around the second largest hydroelectric dam in installed power
The measure was reported by Senator Tereza Cristina (PP-MS) and allows the application of tariffs on imports, suspension of commercial concessions, restrictions on intellectual property agreements and retaliation to environmental requirements above international standards.
I want my access
According to the project, the contracted need to be preceded by public consultations and reasonable deadlines for analysis. However, in exceptional situations, the Executive Branch may immediately adopt measures.
The proposal comes as a direct response to the “Liberation Day”, a tariff package announced by US President Donald Trump, which establishes overflow to imports from countries that apply barriers considered disproportionate to American products.
Brazil will be affected by a 10% tariff – the lowest among affected countries, along with Singapore and the United Kingdom, for example. The new rates come into force at midnight on Thursday (3).
