Accessibility links

Brazil's da Silva Speaks Out Against Protectionism


Brazilian President Luiz Inacio Lula da Silva says rising protectionism by rich nations threatens the world's emerging economies.

In an interview published Wednesday by The Wall Street Journal, Mr. da Silva cited as an example, the "Buy American" clause in the U.S. stimulus package recently approved by Congress. The clause states that only U.S.-made products should be used on stimulus-funded public works projects in cases where they would not violate U.S. trade agreements.

Mr. da Silva said that while protectionism may seem beneficial at first, in the long term, it wounds countries, especially poor ones that need to sell their goods to richer nations.

He said the issue would be his top priority at a White House meeting Saturday with U.S. President Barack Obama. Reviving stalled world trade talks are also expected to be on the agenda.

A recent White House statement describes Brazil as a close friend and partner of the United States. The release says Mr. Obama looks forward to discussing ways in which the two countries can strengthen cooperation on global hemispheric challenges.

XS
SM
MD
LG