Published by Global Banking & Finance Review®
Posted on August 15, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GoogleBrazilian President Lula welcomes foreign investment at GWM's factory opening, criticizing U.S. tariffs and highlighting Brazil's export growth potential.
SAO PAULO (Reuters) -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 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 and Mercedes have decided to scale back their operations in Brazil, but celebrated the arrival of other companies, like China's GWM . 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.
Brazil's auto exports are expected to grow 38.4% in 2025 compared to 2024, reaching 552,000 units, data from automakers association Anfavea showed last week.
(Reporting by Isabel Teles; Editing by Brendan O'Boyle and Sarah Morland)
Foreign investment refers to the investment made by individuals or entities in one country into assets or businesses in another country, often to gain a return on investment.
The automotive industry encompasses all companies and activities involved in the design, development, manufacturing, marketing, and selling of motor vehicles.
Economic growth is the increase in the production of goods and services in an economy over a period, often measured by the rise in GDP.
Explore more articles in the Headlines category
