Lula's approval rises amid tariff dispute with Trump, poll shows
SAO PAULO (Reuters) -Approval for Brazilian President Luiz Inacio Lula da Silva exceeded disapproval for the first time in nine months, a poll showed on Thursday, against a backdrop of a growing dispute with Washington.
Earlier in July, U.S. President Donald Trump said he would slap 50% tariffs on Brazilian exports to fight what he has called a "witch hunt" against Lula's right-wing rival, former President Jair Bolsonaro.
Those tariffs were formalized on Thursday, albeit with some key sector exemptions. The Trump administration has also imposed sanctions and visa restrictions on the judge overseeing Bolsonaro's trial on charges of plotting a coup.
Lula's government has pushed back, calling Trump an unwanted "emperor" and the sanctions "unacceptable."
The AtlasIntel/Bloomberg poll showed 50.2% approval of Lula's performance, up from 49.7% in the previous poll two weeks ago and marking the first time he has scored greater approval than disapproval since October.
The new poll adds to evidence that Trump's tactics may be backfiring in Brazil, rallying public support behind a defiant leftist government.
The proportion of respondents who consider Lula's government good or great has also improved, now at 46.6% from 43.4%, although that is still below the 48.2% who consider it bad or awful.
If a replay of the 2022 presidential election in Brazil was held this week, 47.8% of those surveyed would vote for Lula and 44.2% for Bolsonaro.
Despite being barred from holding public office until 2030, Bolsonaro insists he could run again, while Lula has hinted that he could run for reelection.
The poll surveyed 7,334 Brazilian adults online between July 25 and July 28. The poll has a margin of error of plus or minus one percentage point.
(Reporting by Isabel Teles in Sao Paulo, editing by Manuela Andreoni and Rosalba O'Brien)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
2 hours ago
- New Straits Times
Trump's 'America First' may fuel global currency shift
EUROPE and Asia could leverage United States President Donald Trump's "America First" strategy for their own benefit, eventually spurring the development of regional tripolar foreign exchange (forex) blocs that could erode the dominance of the US dollar and reshape global markets. The US dollar has struggled this year, especially since Trump's April 2 tariff announcement. While the currency jumped recently following the announcement of US-European Union trade deal, this short-term move doesn't change the long-term trends that could undermine the greenback's position. Economic dominance in the future could largely depend on access to affordable, efficient energy to power artificial intelligence technologies. And in the race to dominate the industries of the future, the US is arguably going in reverse. It's retreating from the renewables space, as seen in the administration's recent move to eliminate many clean energy subsidies. The president appears to be making the bet that the US can maintain energy dominance indefinitely by relying on its own fossil fuel resources. This could ultimately result in uncompetitive power costs in the future, given that China is already dominating in clean energy technologies like solar and electric vehicles. While Trump may be seeking to enhance American self-sufficiency, the administration's policies may actually be increasing the country's dependency on foreign capital. Trump's recently passed budget bill — which looks pretty ugly to fiscal watchdogs despite its name — could cement the US' position as the world's biggest capital importer by adding an expected US$3.4 trillion to the US deficit over the next decade, according to estimates by the nonpartisan Congressional Budget Office, potentially locking in six to seven per cent budget deficits for years. The US has also been running current account deficits of roughly four per cent over the past several years, and this widened to six per cent of gross domestic product in the first quarter, according to the US Bureau of Economic Analysis. By spending beyond its means and running these twin deficits, the US will continue to require large amounts of foreign capital inflows. But this capital may soon be harder to come by, if Europe and Asia seek to keep more of it closer to home. While Europe has agreed to increase US energy purchases through the recently announced US trade deal, much of that agreement remains up in the air. Meanwhile, Asia has begun to trade more internally, as China has been focusing on export diversification. A growing regionalisation of supply chains began during the Covid-19 pandemic and appears to be accelerating as Trump seeks to drive production back to the US and all major global powers focus on securing regional raw material access (e.g., rare earths and other critical minerals) for national security purposes. This shift could eventually create the foundation for true regional forex blocs across Asia, Europe and the Americas. Within Asia, Pan Gongsheng, governor of the People's Bank of China, has recently highlighted China's interest in having the yuan play a larger role in a multi-polar currency world. While China's capital account remains closed, Asian currencies already primarily trade off the yuan rather than the US dollar. Even though China faces challenges, such as its fight against deflation, its efforts on this front — namely, boosting consumption and reining in excess supply, especially in the renewable energy space across solar, wind and batteries — could ultimately help attract more foreign capital by boosting China's growth profile and corporate earnings. In a world of currency blocs, Europe and Asia could emerge as potential winners, as they erode the US' position as the world's financial powerhouse. So while many investors may get lost in the short-term currency noise, it might be wise to instead focus on the long-term signal.
The Star
3 hours ago
- The Star
Trump, Carney to speak soon, Canadian official says
FILE PHOTO: Canada's Prime Minister Mark Carney arrives at a press conference to make an announcement on recognizing Palestinian statehood, in Ottawa, Ontario, Canada, July 30, 2025. REUTERS/Patrick Doyle/File Photo
The Star
4 hours ago
- The Star
World economies reel from Trump's tariffs punch
ASIA/SOUTH-EAST ASIA (AFP): Global markets reeled at the weekend after President Donald Trump's tariffs barrage against nearly all US trading partners as governments looked down the barrel of a seven-day deadline before higher duties take effect. Trump announced late Thursday that dozens of economies, including the European Union, will face new tariff rates of between 10 and 41 per cent. However, implementation will be on August 7 rather than Friday as previously announced, the White House said. This gives governments a window to rush to strike deals with Washington setting more favorable conditions. Neighboring Canada, one of the biggest US trade partners, was hit with 35 percent levies, up from 25 percent, effective Friday -- but with wide-ranging, current exemptions remaining in place. The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position, while encouraging domestic manufacturing by keeping out foreign imports. But the muscular approach has raised fears of inflation and other economic fallout in the world's biggest economy. Stock markets in Hong Kong, London and New York slumped as they digested the turmoil, while weak US employment data added to worries. Trump's actions come as debate rages over how best to steer the US economy, with the Federal Reserve this week deciding to keep interest rates unchanged, despite massive political pressure from the White House to cut. Data Friday showed US job growth missing expectations for July, while unemployment ticked up to 4.2 percent from 4.1 percent. On Wall Street, the S&P 500 dropped 1.6 percent, while the Nasdaq tumbled 2.2 percent. - Political goals - Trump raised duties on around 70 economies, from a current 10 percent level imposed in April when he unleashed "reciprocal" tariffs citing unfair trade practices. The new, steeper levels listed in an executive order vary by trading partner. Any goods "transshipped" through other jurisdictions to avoid US duties would be hit with an additional 40 percent tariff, the order said. But Trump's duties also have a distinctly political flavor, with the president using separate tariffs to pressure Brazil to drop the trial of his far-right ally, former president Jair Bolsonaro. He also warned of trade consequences for Canada, which faces a different set of duties, after Prime Minister Mark Carney announced plans to recognize a Palestinian state at the UN General Assembly in September. In targeting Canada, the White House cited its failure to "cooperate in curbing the ongoing flood of fentanyl and other illicit drugs" -- although Canada is not a major source of illegal narcotics. By contrast, Trump gave more time to Mexico, delaying for 90 days a threat to increase its tariffs from 25 percent to 30 percent. But exemptions remain for a wide range of Canadian and Mexican goods entering the United States under an existing North American trade pact. Carney said his government was "disappointed" with the latest rates hike but noted that with exclusions the US average tariff on Canadian goods remains one of the lowest among US trading partners. - 'Tears up' rule book - With questions hanging over the effectiveness of bilateral trade deals struck -- including with the EU and Japan -- the outcome of Trump's overall plan remains uncertain. "No doubt about it -- the executive order and related agreements concluded over the past few months tears up the trade rule book that has governed international trade since World War II," said Wendy Cutler, senior vice president of the Asia Society Policy Institute. On Friday, Trump said he would consider distributing a tariff "dividend" to Americans. Notably excluded from Friday's drama was China, which is in the midst of negotiations with the United States. Washington and Beijing at one point brought tit-for-tat tariffs to triple-digit levels, but have agreed to temporarily lower these duties and are working to extend their truce. Those who managed to strike deals with Washington to avert steeper threatened levies included Vietnam, Japan, Indonesia, the Philippines, South Korea and the European Union. Among other tariff levels adjusted in Trump's latest order, Switzerland now faces a higher 39 per cent duty. - AFP
