LatinNews Daily - 30 July 2025

*Brazil’s Finance Minister Fernando Haddad has expressed hope that Brazilian and US authorities can reach a negotiated solution to the possible implementation of tariffs on Brazilian products entering the US from 1 August onwards. Since US President Donald Trump announced on 9 July that the US would impose 50% tariffs on Brazilian imports, the Brazilian government led by President Luiz Inácio Lula da Silva has suggested it will respond to the threat with reciprocal tariffs or trade barriers but has also insisted that Brazil is willing to negotiate. Haddad said yesterday that bilateral channels of communication between government ministers are open and even hinted at the possibility of call between Lula and Trump. However, Haddad has also said that if the proposed 50% tariff rate is imposed on 1 August, Brazil has prepared a contingency plan to mitigate the impact on the sectors that are likely to suffer the most from US tariffs. On 28 July Haddad said that the contingency plan has been finalised and sent to President Lula.

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