Trump is the expression of the United States' desperation in the face of China.

China is a country with almost 1,5 billion people, one step away from becoming the world's largest economic and technological power. Donald Trump and the top economic and political leaders of the United States feel they are losing control of global power, as they find themselves in an unprecedented situation of financial fragility. The dollar is depreciating against other currencies worldwide.

The United States has exceeded the debt limit approved by Congress, of approximately $36,2 trillion (120% of GDP). The legal debt limit expires in August. Donald Trump appealed to Congress and secured approval, in a close vote, of the bill that increases the country's debt by $3,3 trillion over ten years.

The country is on the brink of a financial crisis with unpredictable consequences for the security of the financial system and the dollar. Interest rates for credit in the markets are very high. Investor insecurity has compounded concerns about what might happen to the planet's financial, technological, and military empire—an apprehension typical of the moments preceding major crises. Perhaps this explains the aggressive attacks from the Trump administration.

The scandalous tariff imposed on Brazil exposed the discomfort of the United States government with our independent, active, and assertive foreign policy. The Lula government rescued Brazil from its isolation, subservience, and status as an international pariah—a situation to which it had been relegated by the previous government—and repositioned it in international geopolitics with sovereign leadership.

President Lula has actively participated in major international forums, advocating for multilateralism, the eradication of hunger, extreme poverty, and inequality; the defense of sustainable development with social, tax, and environmental justice; and peace among nations. He has strategically worked to expand Brazil's participation in international trade, opening more than 340 new markets for our products. We have broken consecutive export records, reflecting the growth of our economy based on investments.

Recently, Brazil chaired the G20, a group of the world's largest economies, breaking with the traditional and predominant agenda of problems within the international financial system and prioritizing urgent issues affecting all countries. So much so that the summit's final declaration reaffirmed its commitment to the guidelines of the Paris Agreement on climate change, support for the Global Alliance against Hunger and Poverty (joined by 80 countries), the reduction of inequality, indicated the taxation of the super-rich, and the need for changes in global governance.

Brazil holds the presidency of Mercosur. President Lula finalizes the long-awaited agreement between Mercosur and the European Union and puts the agenda of emerging global problems, which he has brought to other international forums, up for discussion.

He also chairs BRICS and held its 17th summit earlier this month in Rio de Janeiro. In the final declaration, signed by the heads of state, commitments were made to defend multilateralism, reform the UN, seek fairer and more equitable global governance, and expand cooperation among countries of the Global South.

The statement also highlights the importance of the New Development Bank of the BRICS, cooperation in health, addressing environmental and climate problems, the urgency of AI regulation, popular participation, combating racism and all types of discrimination, and the pursuit of peace among nations.

Brazil's foreign policy of engaging with international forums on pressing global issues has found its antagonist in the Donald Trump administration. The decision to impose a 50% tariff on Brazilian products imported by the United States and the interference in Brazil's internal affairs came alongside threats to the BRICS group.

Beyond the imposed tariff, Donald Trump disrespected our sovereignty, the principle of self-determination of peoples, and our commitment to guaranteeing the democratic rule of law. He attacked our republican institutions, particularly the Judiciary, for conducting a trial against the former president and his subordinates for the attempted coup d'état in Brazil, aimed at establishing a dictatorship.

Furthermore, Donald Trump stated that if a reference currency is adopted for trade between nations of the Global South, ending the dominance of the dollar in the world market, he will impose additional trade tariffs of 10% on countries that align themselves with BRICS.

The United States sent letters to 25 of its trading partners, threatening to impose tariffs of 25% to 50% on imported goods from those countries. According to a Bloomberg report, the European Union threatened to retaliate with a 30% tariff on most of its exports to the United States, although it prefers a negotiated solution. A meeting to decide on this is expected to take place this week. Tariffs have already affected 70% of European exports to the US market. Current charges have reached €380 billion, approximately US$442 billion.

In June, almost a month ago, NATO members raised their defense spending targets by 5% of GDP to meet Donald Trump's demands. Giving in to these demands, as the Europeans have just done, means transferring resources to the United States' defense industry. Then, the European Union received the letter of tariff increases.

With multilateralism under attack and the institutional model of governance created in the post-war period crumbling, Europe now has the opportunity to break free from complacency with the United States and unite with the democracies of the Global South in order to rebuild a trade and financial system from the perspective of a sustainable development model, consistent with the needs of overcoming the tariff war imposed by the Trump administration, addressing emergency problems, resolving conflicts, and building lasting peace.

President Lula has advocated for dialogue with other heads of state to build an institutional model capable of addressing urgent challenges: ensuring human rights, sovereignty, democracy, the eradication of poverty, the reduction of inequality—in short, a sustainable development model with social, tax, and environmental justice—in which dialogue prevails in building consensus for the restoration of peace among nations, the care of people, especially those living in vulnerable situations, and the environment. President Lula's foreign policy has an unwavering commitment to this agenda, which has been received with enthusiasm by global leaders. Join us.