IBOV 172,558.91 ▲ 0.89% IPSA 11,532.96 ▲ 1.72% IPC MEX 66,101.04 ▲ 0.57% MERVAL 2,921,733 ▲ 0.29% COLCAP 2,478.93 ▲ 0.80% BVL PERÚ 60,222.25 ▲ 0.73% USD/BRL5.15▲ 0.24% USD/MXN16.96▲ 0.32% USD/CLP912.20▼ 0.31% USD/COP3,069▲ 0.85% USD/PEN3.35▼ 0.14% USD/ARS1,508▲ 0.53% USD/UYU40.18▼ 0.03% USD/PYG5,989▼ 0.11% USD/BOB11.44▲ 0.09% USD/DOP58.00▼ 1.11% USD/CRC446.05▼ 0.89% USD/GTQ7.62▼ 0.04% USD/HNL26.82▲ 0.02% USD/NIO36.62— 0.00% USD/VES782.70▲ 0.48% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.72▲ 0.25% EUR/BRL6.00▲ 0.03% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 172,558.91 ▲ 0.89% IPSA 11,532.96 ▲ 1.72% IPC MEX 66,101.04 ▲ 0.57% MERVAL 2,921,733 ▲ 0.29% COLCAP 2,478.93 ▲ 0.80% BVL PERÚ 60,222.25 ▲ 0.73% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Monday, August 24, 2026

Brazil Analysis

Trump’s Return: A Storm for Lula’s Brazil

By · January 21, 2025 · 2 min read

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(Analysis) On his first day back in office, President Donald Trump made it clear that Lula’s Brazil holds little importance to the United States.

This revelation comes from recent statements by Trump and actions planned by his former strategist Steve Bannon. The news highlights the challenges facing Brazil’s left-wing government and judiciary as they confront some of the world’s most influential figures.

Trump’s dismissive attitude towards Brazil emerged during an Oval Office interview. He stated that Latin American countries, including Brazil, need the U.S. far more than the U.S. needs them.

This stance marks a sharp departure from traditional diplomatic niceties between the two largest democracies in the Americas. The Brazilian government’s actions against Trump’s allies, particularly former President Jair Bolsonaro, have not gone unnoticed.

The ongoing legal proceedings against Bolsonaro and his supporters stand in stark contrast to Trump’s ability to campaign freely despite his own legal challenges. This disparity has fueled tensions between the two nations.

Trump's Return: A Storm for Lula's Brazil.
Trump’s Return: A Storm for Lula’s Brazil (Photo Internet reproduction)
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Steve Bannon is already devising strategies to undermine the Lula administration. He has called for strict sanctions against Brazil and its Supreme Court Justice Alexandre de Moraes.

Political Challenges Amid Trump’s Influence

Bannon’s involvement suggests a coordinated effort by Trump allies to pressure the Brazilian government and judiciary. The Brazilian Supreme Court’s decision to bar Bolsonaro from attending Trump’s inauguration has further strained relations.

This move has been interpreted by Trump’s allies as political persecution, with some Republican lawmakers expressing support for Bolsonaro and criticizing the court’s decision.

President Lula da Silva now faces a complex political landscape. He must navigate strained relations with the U.S. while addressing domestic challenges. These include a polarized electorate and a conservative-dominated Congress that limits his reform agenda.

The crackdown on Bolsonaro supporters, with over 1,500 arrests related to the January 8 riots, has led to accusations of political persecution. Trump’s history of retaliating raises concerns about potential consequences for Brazil.

His “America First” approach and willingness to use economic leverage could pose significant challenges for Lula’s government. The threat of trade tariffs or other punitive measures looms large, given Brazil’s economic vulnerabilities.

It remains to be seen how Brazil’s government will respond to these challenges from across the northern border, especially given Trump’s reputation for dealing harshly with those he considers adversaries.

Trump’s Return: A Storm for Lula’s Brazil

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