I expect nothing from this government. Whatever good comes is a bonus. But so far, it has only gotten worse.

Lula will not make a choice between the United States or China amid the trade war, says Haddad

The Minister of Finance, Fernando Haddad, said this Monday, 12, that Brazil will not make a choice between the United States and China amid the trade war between the two largest economies in the world.

"President Lula will not make this choice (...). We need to rethink our development; we cannot be so dependent on a bilateral relationship," he said in an interview with UOL.

The minister emphasized that Brazil is not choosing an economic bloc. "Brazil knows that, to develop, it needs good trade agreements with Asia, good trade agreements with Europe, and a good agreement also with the United States," declared the Minister of Finance.

He stated that the conversation with the U.S. Treasury Secretary, Scott Bessent, was very frank and polite, addressing the most delicate issues. Haddad recalled, however, that negotiations with the government of Donald Trump are being conducted by the Vice President and Minister of Industry, Geraldo Alckmin.

When discussing the arguments brought to the meeting with Bessent, Haddad reiterated that South America has a trade deficit with the United States. "How do you tax a region that has a deficit? From an economic point of view, it makes no sense.

And he himself (Bessent) acknowledged when I said this and said: 'Look, we are going to negotiate, we will sit at the table to negotiate,'" the minister reported. "From my perspective, the United States should look more generously at Latin America and South America.

And Brazil, from my point of view, is doing the right policy," added Haddad, who also called for a more strategic view from the U.S. towards the continent.

Source: Estadão

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