US EditionTrump Hikes Brazil Tariff Rate to 50%, Sending Assets Reeling
BRAZIL, JUL 9 – The new tariff rate for Brazil is part of a gradual rollout responding to trade issues and past combative tariff behavior, according to Trump.
- President Donald Trump announced on July 9 a 50% tariff on all Brazilian imports, effective August 1 unless production moves to the U.S.
- The tariff escalation follows a dispute between Trump and Brazil's President Lula over Brazil's treatment of ex-President Bolsonaro and alleged attacks on free elections.
- Brazilian Vice President Geraldo Alckmin criticized the tariff as unfair and harmful to the U.S. economy, noting the U.S. runs a $7.4 billion trade surplus with Brazil.
- After the announcement, the Brazilian real declined by 2.9% against the U.S. dollar, and the largest U.S.-listed ETF focused on Brazilian stocks, valued at $5.35 billion, fell 1.8% during after-hours trading.
- This tariff move intensifies U.S.-Brazil trade tensions and may disrupt key sectors like coffee and orange juice, signaling possible wider economic impacts.
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28 Articles
Trade Tensions: U.S. Imposes New Tariffs on Brazil Amid Political Clash
Trade Tensions: U.S. Imposes New Tariffs on Brazil Amid Political Clash The United States has escalated its trade tensions with Brazil, declaring a 50% tariff on all imports from the South American nation. The announcement follows a dispute between President Donald Trump and Brazil's President Luiz Inacio Lula da Silva, centered around the treatment of former Brazilian President Jair Bolsonaro.Trump has linked the new tariffs, set to begin on Au…
'Glaring error': Trump's angry tariff letter cites 'imaginary trade deficit'
President Donald Trump's angry letter to Brazil chastizing its judiciary and informing the country of his plans to slap a massive tariff on its goods contained a "glaring" error, The Guardian noted Wednesday.Trump issued a scathing rebuke of Brazil's judiciary in his letter, writing, "I knew and dea...
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