After taxation, Lula reaffirms that BRICS will seek alternatives from the dollar

President Luiz Inacio Lula da Silva said on Thursday (10) that BRICS will continue to discuss mechanisms to reduce dollar dependence on trade among the bloc countries.

The statement was made in interviews with TV Record and Jornal Nacional, a day after US President Donald Trump announces a 50% rate on all exported Brazilian products.

According to Lula, Washington’s discomfort is linked to the advance of the protagonism of the global southern.

“Why am I forced to be backed by the dollar, which I don’t control?

“We want to have independence in our policies, we want to make freer trade. We can do it in our coins,” he added.

In a firm tone, Lula stressed that Brazil will seek the path of negotiation, but will not accept intimidation. “We don’t want to fight with anyone. We want to negotiate. What we want is that Brazilian decisions are respected,” he said

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BRICS articulates gradual output of dollar dependence and strengthens autonomy

The proposal of a monetary alternative has been at the center of BRICS discussions since its expansion in August 2023 and the strengthening of the New Development Bank, chaired by Dilma Rousseff.

“BRICS is a forum that occupies half of the world’s population and almost 30% of world GDP. We are tired of being subordinate to the north,” he said. “What he [Trump] It can’t act as if you own others. ”

Trump’s reaction, he said, widens the discomfort with this new multipolar arrangement.

Reinforcing that Brazil defends multilateralist solutions, Lula stated that disagreements should be debated in forums such as the G20 – not through threats or attacks on the sovereignty of countries.

“If he had divergence, the correct would be at a G20 meeting he raises the problem. Let’s make a civilized discussion. We convince us. Let’s argue.”

“We do not accept challenge”: sovereignty and reaction to the tariff blackmail

The Brazilian president classified as disrespectful the letter published by Trump on his website, in which the Republican threatened Brazil and attacked the justice system.

Lula said he did not receive any official correspondence and that North American rhetoric does not match diplomatic relations between heads of state.

“He published on his website, in a total lack of respect, which is his behavior with everyone. And I am not required to accept this disrespectful behavior,” he said.

“One president does not own the truth. One president has no ideological relationship with the other.” Lula reiterated that the Brazilian response will be coordinated between government, entrepreneurs and Itamaraty.

Among the measures under analysis are the application of the Reciprocity Law, consultations to the World Trade Organization (WTO) and the search for new business partners. “If he will charge 50 of us, we will charge 50 of him. But first we will try to negotiate,” he said.

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Brazil will seek new markets and articulates with other countries taxed

In addition to the institutional reaction, the government will organize a commission with representatives of the productive sector to discuss impacts and alternatives to the US market.

Lula also reinforced his commitment to the diversification of international partners and cited his participation in the next Asean meeting, a bloc that brings together ten Asian countries.

“Trade between Brazil and the United States has only 1.7% of GDP. It’s not the thing we can’t survive without the United States. If the United States don’t want to buy, we’ll look for those who want to buy,” he said.

“I myself will look for new markets for Brazilian products.”

For Lula, Trump’s attempt to destabilize Brazil is also linked to the trial of former President Jair Bolsonaro and the discomfort with the autonomy of Brazilian justice. “If Trump had done in Brazil what he did in the capitol, he would also be judged,” he said. “Here, the law is for everyone. Really. It gives to those who hurt.”