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Lula’s Miscalculation Painted a Tariff Target on Brazil’s Back If Russia doesn’t end the war in Ukraine soon, there is a growing expectation that President Trump’s secondary tariff policy will expand beyond India — and thanks to Lula’s repeated missteps, Brazil is squarely in the crosshairs. The numbers are stark. Per the Financial Times, Brazil’s imports of Russian diesel have rocketed from $95M in 2022 to $5.4B in 2024, making it the world’s #2 buyer after Turkey. But this isn’t just about trade flows. Lula has: •Pushed relentlessly to weaken the dollar via BRICS •Tilted commerce and diplomacy toward China over the U.S. •Embraced Alexandre de Moraes’s aggressive censorship campaign against political opponents and U.S. platforms The result is a frayed relationship with Washington at the worst possible time, and a looming risk of secondary tariffs that could hit the diesel fueling Brazil’s trucks and tractors, and other imports keeping its agribusiness competitive. Lula’s foreign policy has set the stage for a perfect storm. www.ft.com/content/96928b37-4b5c-401e-b189...