Brazil depends on the US, but it also depends on BRICS, Europe, and Mercosur, says Tebet.
The minister stated that Brazil must "do its homework" and emphasized that the country cannot remain dependent on "unforeseen circumstances."
Reuters - Brazil's Minister of Planning and Budget, Simone Tebet, acknowledged on Wednesday that Brazil is dependent on the United States for trade, but pointed out that the country also has a relationship of dependence with BRICS countries, Europe, and Mercosur, calling for progress in trade ties with these groups.
"Brazil depends on the United States, that's true, but it also depends on the BRICS countries, it depends on Europe, and it depends on Mercosur," said Tebet at the Logistics in Brazil Debate Series event in São Paulo.
"Therefore, advancing this Mercosur-European Union trade relationship, strengthening our ties with BRICS, is important."
The minister also stated that Brazil must "do its homework" amidst the current global economic scenario, arguing that the country cannot remain dependent on "unforeseen circumstances."
These statements come as the August 1st deadline imposed by US President Donald Trump approaches, allowing the Brazilian government to impose a 50% trade tariff on Brazil, with the Brazilian government attempting to negotiate with Washington.
When questioned about the Brazilian fiscal situation, Tebet said that the government cannot forgo any revenue at the moment if it wants to move forward with investments. She also reiterated the economic team's commitment to meeting the fiscal targets for this year and next.
According to her, fiscal responsibility is a "maximum" for the government, arguing that without balanced public accounts, there is no social development.
The Executive branch has set fiscal targets of a zero primary deficit this year and a surplus of 0,25% of Gross Domestic Product (GDP) in 2026.
