Brazilian President Luiz Inacio Lula da Silva said on Friday that foreign companies that want to do business in Brazil are welcome, speaking at the opening ceremony for a factory for Chinese automaker GWM (601633.SS), in the state of Sao Paulo.
“Count on the Brazilian government. Whoever wants to leave, leave. Whoever wants to come, we welcome you with open arms,” Lula said at the ceremony.
During his speech, Lula criticized the 50% tariffs on Brazilian goods imposed by U.S. President Donald Trump, and said that his country is facing an “unnecessary turbulence.”
Lula said in an interview with Reuters earlier this month that he would initiate a conversation at the BRICS group of developing nations, which includes China, about how to tackle Trump’s tariffs.
The leftist leader noted that in the past automakers Ford (F.N), and Mercedes (MBGn.DE), have decided to scale back their operations in Brazil, but celebrated the arrival of other companies, like China’s GWM (601633.SS). Brazil is always open to negotiating business, he stressed.
GWM’s Brazilian arm has capacity to produce 50,000 vehicles per year and is expected to generate more than 2,000 jobs in the future when it begins exporting vehicles to Latin America, according to a press release.
