Brazil’s government is preparing a response to the latest US tariffs, which could include non-tariff measures affecting the audiovisual sector and pharmaceutical and agricultural patents.
Brazil’s Reciprocity Law
Brazil is considering invoking its reciprocity law, which would allow the country to impose countermeasures against the US. The measures under consideration are in line with this law, which President Luiz Inácio Lula da Silva pledged to invoke after the US announced a 25% tariff on many Brazilian products.
According to sources, Brazil is expected to revisit countermeasures studied last year, including curbs on dividend and royalty remittances by US audiovisual companies. The government is also considering suspending patent protections for pharmaceutical products and agricultural seeds.
US officials have warned that Washington would ‘review its actions’ if Brazil retaliates, a prospect that has fueled concerns among Brazilian exporters and pushed some to diversify away from the US market.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
