New Delhi [India], August 12 (ANI): Brazil’s Ambassador to India, Kenneth Felix Haczynski, said that US President Donald Trump’s high tariffs on India and Brazil pose a challenge but also create an opportunity to seek out trusted partners.
Speaking to ANI, Haczynski said Brazil is willing to increase cooperation with India. “The unexpected imposition of high tariffs presents both a challenge and an opportunity for our country to seek out trusted partners and expand business relations. During a conversation with Prime Minister Modi, we highlighted the long-standing relationship between the two countries, emphasizing their potential to do more together. Brazil is open to negotiating tariffs, though within the limits of its sovereignty,” he said.
According to CNN, the new levies raise the US’ effective tariff rate above 17 percent, the highest since the Great Depression. After threatening India with a combined 50 percent tariff rate—set to take effect later this month—Trump said he is not keen on engaging in further negotiation talks with India. “Not until we get it resolved,” he told reporters in the Oval Office.
Most goods from India are being charged a minimum 25 percent tariff. Trump also threatened an additional 25 percent tariff if India does not cease purchasing oil from Russia by August 27. Prime Minister Narendra Modi defended his decision not to bow to US trade threats and face steep tariffs as a result. “For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen, and dairy farmers. I know personally I will have to pay a heavy price for it, but I am ready for it,” CNN quoted him as saying.
On Wednesday, Trump signed executive actions imposing a 50 percent tariff on Brazil, a 50 percent tariff on certain copper products, and suspending a tax perk for all countries that allowed cheap packages to fly into the US duty-free. He had previously threatened to impose the 50 percent tariff on Brazil effective August 1 in a letter to Brazilian President Luiz Inacio Lula da Silva, warning of the hefty tariff if Brazil did not end its trial against right-wing former president Jair Bolsonaro. (ANI)
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