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Lula won the Brazilian elections and regained the presidency. Although Trump said the election was “rigged”, he did not help Bolsonaro. Bolsonaro changed his words and accepted defeat. The market was shaken by the return of the left.
Leftist leader Luiz Inácio Lula da Silva, 80, who was born a worker, attended the ceremony on the 25th.brazil The election gave him his fourth presidential term. Lula defeated then right-wing President Jair in the 2022 electionsbolsonaro (Jair Bolsonaro) defeated Bolsonaro’s eldest son Flavio Bolsonaro in this election. The New York Times analyzed that the support of Brazilian voters gave Lula an unexpected victory, which also shocked Latin America where a conservative wave was taking place.
Bolsonaro initially announced on the 25th that he would challenge the election results. He criticized the extension of voting time to the 25th due to bad weather, traffic problems and requests from campaign teams of both parties, calling it a “dirty trick” to manipulate the election.
trump The President told the media on the 26th that Brazil’s election appeared to be “rigged” and “very corrupt”, but indicated that he would not provide assistance to the defeated Bolsonaro.
Shortly after Trump’s speech was reported, Bolsonaro acknowledged that he had lost the election and withdrew his threat to declare the election “invalid”. Bolsonaro said he would file a lawsuit against Lula, accusing him of using his position to influence the vote. This is a common tactic used by losing candidates and is rarely successful in court.
The first round of voting in the Brazilian general election took place on 4 October. Bolsonaro came first and Lula came second. It is estimated that Lula may be out in the second round of voting. However, in the second round of voting on the 25th, due to the successful mobilization of the core base, Lula won an upset victory with a massive lead of 4.4 million votes.
Lula ultimately won the election with 51.8% to 48.2% of the vote. He got 10 million more votes in the second round than in the first round. In previous general elections, the second round of voting was more deserted than the first, but this time there was a rare change.
Lula thanked voters in his victory speech. “Thank you for the generosity of young Brazilians for taking to the streets to defend democracy,” he said. He won elections in 2002 and 2006.
Trump did not support Bolsonaro in this election, but Trump has always been an ally of Jair Bolsonaro, who served as the President of Brazil from 2019 to 2023. 71-year-old Jair Bolsonaro is currently under house arrest. After Lula won the 2022 presidential election, Jair Bolsonaro attempted to overturn the election results in 2023, but failed and was later convicted.
An adviser to the Bolsonaro family said Bolsonaro fears his father will die in prison and fears he will be jailed this week and could face a long sentence. The fear of prison motivated his willingness to make concessions.
The Washington Post analyzed that the White House is promoting right-wing leaders in Latin America who are sympathetic to Trump and have been quite influential over the past year and a half. However, the results of the Brazilian presidential election on the 25th were a major blow to the Trump White House because Brazil is the most populous country in Latin America and Lula has always opposed Trump’s agenda.
Bolsonaro said in a statement on the 26th: “I did not lose, but the system won.” He said he would organize opposition forces to establish a “barricade against barbarity.” He said federal police had ordered the freezing of passports to prevent departures. He denied any wrongdoing and said he had no plans to flee.
However, Lula returned victorious, and the market’s expectations of a right-wing party coming to power to reform the fiscal system were disappointed. Both the Brazilian stock and foreign exchange markets fell at the open on the 26th, down more than 10%. The stock market also triggered the circuit breaker mechanism, and even agricultural products such as soybeans and coffee weakened simultaneously. Whether leftist Lula can balance social welfare spending and curb the rising deficit and debt will be key to stabilizing investor confidence.
Summary FAQ
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Lula successfully mobilized his base in the second round and ultimately won 51.8% to 48.2%, leading by approximately 4.4 million votes and 10 million more votes than in the first round, scoring a rare upset.
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Trump said Brazil’s election looked “rigged” and “very corrupt”, but reports showed he did not explicitly say he would help Bolsonaro, who lost the election, nor did he publicly support his protest actions.
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Bolsonaro first threatened to challenge the election results, then changed his words and conceded defeat, and then filed a lawsuit against Lula. The news caused Brazilian stock and currency markets to fall by more than 10%, triggering a circuit breaker that also weakened agricultural products.
