Trump announces 50% tariff on Brazil in retaliation for Bolsonaro trial, trade deficit
Trump announces 50% tariff on Brazil in retaliation for Bolsonaro trial, trade deficit
Brazil will respond to Trump's 50% tariff with 'reciprocity,' says da Silva
President Donald Trump said Wednesday the U.S. will slap a 50% tariff on Brazil’s imports, partly in retaliation for the ongoing prosecution of the country’s former president, Jair Bolsonaro.
Trump said the new tariff — a massive jump from the 10% rate the U.S. imposed on Brazil in early April — was also spurred by the “very unfair trade relationship” with the country, calling it “far from Reciprocal.”
The U.S. is also launching an investigation into potential unfair trade practices by Brazil, Trump said in a letter to Brazil’s current president, Luiz Inacio Lula da Silva.
The probe is based on “Brazil’s continued attacks on the Digital Trade activities of American Companies,” Trump wrote in the letter, which he shared publicly in a Truth Social post.