IBOV 175,710.05 ▼ 0.51% IPC MEX 69,711.87 ▲ 0.35% MERVAL 2,848,945 — — USD/BRL5.35▲ 0.05% USD/MXN18.64▼ 0.18% USD/CLP983.77▼ 0.08% USD/COP3,146▼ 0.10% USD/PEN3.45▲ 0.03% USD/ARS1,538— 0.00% USD/UYU40.21▲ 3.50% USD/PYG5,803▲ 4.05% USD/BOB11.97▲ 4.12% USD/DOP61.24▲ 1.90% USD/CRC451.24▲ 2.31% USD/GTQ7.64▲ 3.15% USD/HNL26.87▲ 3.37% USD/NIO36.62▼ 0.02% USD/VES885.90▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▲ 2.51% USD/TTD6.71▲ 1.96% EUR/BRL5.95▼ 0.82% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99% IBOV 175,710.05 ▼ 0.51% IPC MEX 69,711.87 ▲ 0.35% MERVAL 2,848,945 — — USD/BRL 5.34 ▼ 1.32% USD/MXN 18.69 ▲ 0.62% USD/CLP 983.47 ▼ 0.57% USD/COP 3,149 ▲ 3.06% USD/PEN 3.45 ▲ 0.17% USD/ARS 1,537 ▼ 0.28% USD/UYU 40.21 ▲ 3.57% USD/PYG 5,803 ▲ 3.78% USD/BOB 11.97 ▲ 4.93% USD/DOP 60.54 ▲ 1.83% USD/CRC 451.24 ▲ 2.13% USD/GTQ 7.64 ▲ 3.23% USD/HNL 26.87 ▲ 3.37% USD/NIO 36.62 ▲ 2.81% USD/VES 885.08 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 2.63% USD/TTD 6.71 ▲ 2.07% EUR/BRL 5.95 ▲ 7.53% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99%
since 2009
Wednesday, October 28, 2026

Uruguay Latin America

Uruguay Backs Lula Win as Trump Questions It

By · October 26, 2026 · 6 min read
Aerial view of Plaza Independencia in Montevideo with the Palacio Salvo tower at left and the white Executive Tower, the presidential offices, at centre
Photo: Santiago Barreiro / Bicentenario Uruguay / Wikimedia Commons (CC BY-SA 2.0)

URUGUAY · POLITICS AND TRADE

Key Facts

  • What is happening Uruguay’s President Yamandú Orsi spoke with Lula on Sunday, 25 October, and congratulated him on winning Brazil’s runoff, while Donald Trump questioned the result.
  • Why it matters Brazil was Uruguay’s second-largest export buyer in September, and Montevideo has said it will work with whoever governs Brazil.
  • The numbers In September Uruguay sold US$200 million of goods to Brazil, 14% of its exports, and US$160 million to the United States.
  • Who is who Orsi has led Uruguay’s Frente Amplio government since 1 March 2025. Lula is Brazil’s president, and Flávio Bolsonaro, his conservative rival and a senator, says he will seek to annul the vote.
  • What to watch Whether Flávio Bolsonaro files the annulment request he announced, and whether Washington or Montevideo say more about the vote.
  • Power Index Uruguay ranks 7th of 14 in The Rio Times Latin America Power Index, with 45.9 points (October 2026 edition).
  • What it means for you For US readers, the story shows how Trump’s comments on Brazil are heard in a neighbouring economy that sold more to Brazil than to the United States in September.

Uruguay’s president called Lula a friend after Brazil’s runoff on Sunday, 25 October. Donald Trump questioned the result the same evening.

Uruguayan President Yamandú Orsi spoke with Lula on Sunday evening, 25 October, and congratulated him on winning a fourth term in Brazil. Orsi called Lula “a friend” in a post on X, Montevideo Portal and Subrayado reported.

Donald Trump said the same evening that Brazil had “just applied the Joe Biden playbook”, Montevideo Portal reported. Trump gave no evidence, and Flávio Bolsonaro now disputes the Brazil election 2026 result.

What Orsi and His Government Said

Orsi wrote that he had “congratulated him on the victory and on the democratic celebration that an electoral process represents”. The wording is a translation of his Spanish post, as quoted by Subrayado and Montevideo Portal.

Vice President Carolina Cosse called Brazil a “great example” for democracy and Lula’s win “enormous”, Montevideo Portal reported. Subrayado quoted the same post, which opens with “Long live democracy”.

On Friday, 23 October, Orsi said Uruguay must have the best relationship with Brazil whatever the result.On Wednesday, 14 October, Foreign Minister Mario Lubetkin said ties with the United States should be good but “not conditioned”.He added that Uruguay would work with whoever wins once the election results were in.

Three grey container gantry cranes on a quay at the Port of Montevideo under a cloudy sky
Container cranes at the Port of Montevideo, pictured in February 2019 (file photo). The photo does not show the events in this story. Photo: Falk2 / Wikimedia Commons (CC BY-SA 3.0)

Why Brazil Matters More Than Washington Here

Uruguay XXI, the state export agency, put September goods exports at US$1.398 billion, up 10%. On Saturday, 24 October, Brazil bought US$200 million, 14% of the total and 25% more than a year earlier.

That made Brazil Uruguay’s second-largest buyer, behind China at US$410 million (29%). The European Union took US$184 million, the United States US$160 million and neighbouring Argentina US$42 million.

Vehicles and dairy products were each worth about US$31 million of the sales to Brazil. Brazil took 38% of all Uruguayan dairy exports that month.

Orsi and Lula last met in New York on Monday, 21 September, to discuss farm trade and a Yaguarón River bridge. Lula thanked Uruguay for letting Brazil use the surplus of its beef export quota to China, Montevideo Portal reported.

Opposition Voices Split From the Government

The Frente Amplio’s official account wrote that “Lula won, democracy won”, and Senator Mario Bergara said “democracy won”. Montevideo Portal collected the reactions on Sunday evening.

Opposition Senator Sebastián Da Silva said “the confusion is total”. He argued a minister who had once been Lula’s lawyer, not the electoral court, ordered the extension.

Subrayado reported that Supreme Court judge Cristiano Zanin extended voting by two hours, to 19:00, because voters struggled to reach polling stations. Da Silva’s description of who ordered it is his own claim and is not confirmed by the sources reviewed.

Opposition deputy Felipe Schipani criticised the Frente Amplio for opening its headquarters to follow the results, calling it “a Lula bunker”. Montevideo Portal reported that he shared the remark on X.

Flávio Bolsonaro Refuses to Concede

Flávio Bolsonaro said on Sunday night that “it is impossible to recognise the result” and that he would seek annulment. Montevideo Portal cited his claims of irregularities but no evidence, and no body to receive the request was named.

Brazil’s electoral court, the TSE, counted 64,256,232 votes (51.79%) for Lula and 59,826,041 (48.21%) for Flávio Bolsonaro. That is a margin of about 4.4 million votes.

What It Means for US Readers

Trump’s comment puts him at odds with a neighbouring government that has just congratulated the winner. No Uruguayan response to Trump was found in the sources reviewed.

For exporters and investors, Brazil and China each outranked the United States as Uruguayan buyers in September. One month of data is a snapshot, not a trend.

Background is in the Uruguay news hub and the guide to Uruguay’s geopolitics. See also Uruguay’s role in Latin America and Da Silva’s bill on data centres.

What Is Not Known

No Uruguayan official was found answering Trump’s remark. Trump’s words come from Montevideo Portal’s Spanish text, so the English wording is a translation.

Whether Bolsonaro will file his request, and where, is unknown.

What Comes Next

Lula’s inauguration is planned for Tuesday, 5 January 2027. Bolsonaro has not said which body will receive his annulment request.

Uruguay XXI’s next monthly trade report will show whether Brazil keeps its second place. Uruguay’s government has said it will work with whoever governs Brazil.

Frequently Asked Questions

Who is Yamandú Orsi?

He is Uruguay’s president and heads the Frente Amplio government. He took office on 1 March 2025, Montevideo Portal reported.

Why does Uruguay care who runs Brazil?

Brazil was Uruguay’s second-largest export buyer in September, ahead of the United States. Orsi says Uruguay must have the best relationship with Brazil.

What did Trump say about Brazil’s vote?

Trump said Brazil had just applied the Joe Biden playbook, Montevideo Portal reported. He offered no evidence of irregularities.

Has Uruguay answered Trump?

No Uruguayan reply was found in the sources reviewed. Foreign Minister Lubetkin has said ties with Washington should be good but not conditioned.

Is Brazil’s result final?

The TSE count gives Lula 51.79% to 48.21%, and Flávio Bolsonaro says he will seek annulment. No filing was found in the sources reviewed.

Sources: Uruguay XXI, September 2026 report Uruguay XXI, Spanish page (all accessed 26 October 2026).

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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief

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Brazil runoff date: Sunday, October 25, poll closing times and when results start · Brazil runoff polls: Flávio 51%, Lula 49% · Kalshi and Polymarket odds

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