US EditionTrump announces 50% tariff on Brazil in retaliation for Bolsonaro trial, trade deficit
UNITED STATES, JUL 9 – The 50% tariff targets Brazil amid accusations of unfair trade and political persecution of former President Bolsonaro, with the tax effective August 1, escalating bilateral tensions.
- On Wednesday, President Donald Trump singled out Brazil for a 50% import tariff, linking the levy to Brazil’s treatment of former President Jair Bolsonaro.
- In response to Brazil’s handling of Bolsonaro’s trial and allegations of an assassination plot, Trump announced a 50% tariff citing political persecution.
- The 50% tariff is the highest this week, prompting Brazil to retaliate and causing the Brazilian real to fall over 2% against the dollar.
- Following the tariff announcement, Brazil summoned the U.S. chargé d’affaires, and Trump threatened higher tariffs if retaliation occurs.
- Lula and officials held a meeting after Trump's tariffs threat, asserting Brazil's trade surplus and warning that tariffs could trigger reciprocal measures affecting economic stability.
344 Articles
344 Articles
Good morning! It's Thursday, July 10th, and we've been here all day, ready for all the financial and economic news. The uncertainty (or should I say…
New Trump tariffs put Brazil in crosshairs ahead of August 1 deadline
US President Donald Trump has unveiled a sweeping new round of tariffs targeting eight countries, with Brazil hit the hardest. The move, which comes despite a US trade surplus with the South American giant, raises economic and political tensions as the August 1 implementation date looms. Meanwhile in corporate news, Nvidia has become the first publicly traded company to surpass a $4 trillion valuation, overtaking the size of France's entire GDP.
Brazil has also been informed by US President Trump about new customs regulations. In the future, the country is to pay a record duty of 50 percent for exports to the US - apparently for political reasons.
US President Donald Trump said he would impose 50% tariffs on Brazilian imports, citing a “witch hunt” trial against the country’s former president, Jair Bolsonaro. Bolsonaro is on trial in Brazil, accused of trying to overturn his 2022 election loss. He faces charges that include involvement in an armed criminal organization and attempting to violently overthrow the democratic rule of law. Trump has described Bolsonaro as a friend and previousl…
Coverage Details
Bias Distribution
- 49% of the sources are Center
To view factuality data please Upgrade to Premium
