Brazil's Finance Minister Calls Potential US Tariffs Disproportionate and Unjustified

Brazil's Minister of Finance, Dario Durigan, reiterated on Wednesday, May 15th, that a potential increase in import tariffs by the United States would be "disproportionate" and "unjustified." Durigan stated that if such a measure is implemented, the Brazilian government will take action to protect the domestic economy, emphasizing that national productive sectors should not bear the cost of external trade barriers. He declared that Brazilian entrepreneurs, families, truck drivers, and farmers must not be harmed by unfair measures imposed by other countries. While exercising caution regarding the official confirmation of these new American rates, the Finance Minister indicated that the federal government plans to identify the most affected sectors to design support actions. Durigan explained that any reaction would align with the government's previous strategy to shield the domestic market from external pressures. He also assured that any Brazilian response to external pressures would be carefully evaluated against the government's commitment to public spending control and fiscal targets, prioritizing the protection of the population. Despite indications that the tariffs might be imposed by the U.S. government, Durigan expressed optimism that avoiding such taxation is still possible.