SAO PAULO (Reuters)

Brazilian President Luiz Inacio Lula da Silva stated on Friday that foreign companies are welcome in Brazil during the opening ceremony for a GWM factory in 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 event.

He criticized the 50% tariffs on Brazilian goods imposed by former U.S. President Donald Trump and described the situation as an “unnecessary turbulence.”

In an interview earlier this month, Lula mentioned he would discuss tackling Trump’s tariffs with the BRICS group, which includes China.

Lula acknowledged past decisions by Ford and Mercedes to reduce operations in Brazil but highlighted the positive arrival of companies like GWM. He emphasized Brazil’s openness to business negotiations.

GWM’s Brazilian branch is set to produce 50,000 vehicles annually and create over 2,000 jobs when it begins exporting to Latin America, per a press release.

Brazil’s auto exports are projected to increase by 38.4% in 2025 compared to 2024, reaching 552,000 units, according to Anfavea data released last week.