The Brazil Business and Politics Round-up April 9th 2018

Politics

  • Former President Lula arrested. While the politician Lawyer said that the order Is Arbitrary, Judge Sérgio Moro has ordered the arrest of Lula after the Brazilian Supreme Federal Court rejected the habeas corpus request filed by his lawyers.
  • The Federal Supreme Court Denied Lula Habeas Corpus in a 6×5 vote. The case that resulted in his condemnation involves the triplex apartment in Guarujá (SP) has now exhausted it’s compliance procedures and formalities at the 4th Regional Federal Tribunal (TRF-4).
  • Brazilian Army Commander said he repudiates impunity on the eve of the Lula Ruling. The opinion was shared on a social media platform. General Eduardo Villas Boas stated that the army always remains vigilant when it comes to its institutional duties, raising eyebrows when it comes to democracy.

Business

  • Brazil could lose up to R$ 1.1 Billion in exports because of new U.S. Steel Tariff. If applied, the U.S.’s new tariff on imported steel would affect at least 13% of the steel exported by Brazil. The measure announced by President Trump would also lead to a decline of 1.2% in the activity level in the Brazilian sector and would affect the production of semi-finished steel.
  • State of Pará Demands US$ 75 million Settlement from Norwegian Company The governor of the state of Pará filed a civil environmental lawsuit demanding that Hydro Alunorte pay the state R$ 250 million in damages after inadequately disposing of untreated waters in the city of Barcarena, 100 kilometers away from state capital Belém.

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