Brazil does not favor either the United States or China as a trading partner, President Luiz Inacio Lula da Silva said Tuesday, underscoring the country’s balanced approach to global economic ties.

Lula said Brazil seeks to maintain strong and pragmatic relations with both Washington and Beijing, prioritizing national interests over geopolitical alignment.

"We want multilateralism," Lula added during ⁠a joint declaration alongside Portuguese ​Prime Minister ​Luis ⁠Montenegro at ‌Lisbon's ‌Belem ⁠Palace.

Last month, the Brazilian leader described China as his country's "best partner," as he welcomed investments by Chinese carmakers in Latin America's largest economy.

"I am confident that the partnership with China is thriving," Lula told an event marking the reopening of an automotive plant in Goias state, a partnership between Brazil's CAOA and Chinese automaker Changan.