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Brazilians rally against U.S. tariffs, political interference

China

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Brazilians rally against U.S. tariffs, political interference

2025-08-03 01:25 Last Updated At:15:37

Protesters gathered outside the U.S. Consulate in Sao Paulo on Friday to denounce a 50 percent tariff on Brazilian exports and to oppose what they called U.S. interference in the country's sovereignty.

U.S. President Donald Trump on Wednesday signed an executive order imposing an additional 40 percent tariff on Brazilian goods, bringing the total tariff to 50 percent.

The move has sparked widespread anger in the South American country, with many viewing Trump's actions as direct interference in Brazil's domestic politics.

"We're going to show that no external force will make us change our Constitution or our legal framework. Sovereignty must be upheld at all costs," said Marcio da Cruz, a protester.

On July 9, Trump announced plans to impose steep tariffs on Brazil, linking the move to his opposition to former Brazilian President Jair Bolsonaro's trial over an alleged attempt to seize power after losing his reelection bid in 2022.

In mid-July, Washington suspended visas for eight Brazilian Supreme Federal Court justices overseeing Bolsonaro's trial, prompting President Luiz Inacio Lula da Silva to declare on July 17 that Brazil would not tolerate foreign interference in its internal affairs.

Protesters echoed the president's stance at Friday's demonstration.

"We don't want interference from the United States here in our country. Our country is sovereign, it has a government, it has a Constitution, and it needs to be respected. And those who committed crimes, like Bolsonaro, need to be behind bars very soon," said Alcides Amazonas, taking part in the rally.

The impact of the tariffs has been softened by a broad list of exceptions outlined in the U.S. government's decree, which exempts more than 700 product categories from the new 50 percent duties, including Embraer aircraft and orange juice.

However, beef and coffee -- two of Brazil's top exports to the American market -- were not spared.

Initially expected to take effect on August 1, the new tariffs have been delayed. They will now apply to goods entering the U.S. from October 6 onward, giving exporters a short window to adapt.

According to Brazil's Development Ministry, nearly 36 percent of the country's exports to the U.S. remain affected by the new tariffs.

President Lula's government is still pushing for additional exemptions, hoping to leverage U.S. domestic concerns over inflation in key products like coffee and beef. But with politics driving the agenda, negotiations face steep challenges.

"The tariffs, as they were imposed, are clearly a political interference in the Brazilian domestic process, both legal and political, and have the intention to force Brazil to shift towards the right in the forthcoming presidential elections next year. That's not just a matter of saving Mr. Bolsonaro, but instead to prompt Brazilian electors -- voters -- to side with the right-wing side of Brazilian politics," said Vinicius Vieira, an international politics professor.

Brazilians rally against U.S. tariffs, political interference

Brazilians rally against U.S. tariffs, political interference

Brazilians rally against U.S. tariffs, political interference

Brazilians rally against U.S. tariffs, political interference

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025

China's aggregate social financing maintains high growth in 2025

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