EconomyWorld

Trump Slaps 50% Tariff on Brazil Amid Political Tensions

U.S. President Donald Trump has announced a 50% tariff on imports from Brazil, citing strained relations with the country's current leadership and support for BRICS policies.

Posting on his Truth Social account, Trump criticized Brazilian President Luiz Inácio Lula da Silva, calling Brazil’s stance towards him “an international disgrace.” He described the situation as political persecution rather than a legitimate legal process.

Lula responded firmly, stating that Brazil is a sovereign nation with independent institutions and does not accept any form of external pressure. He added that trade issues should be resolved through mutual economic interests, not retaliation.

Lula also condemned U.S. interference in Brazil’s legal proceedings involving former president Jair Bolsonaro, who faces allegations of plotting to overturn the 2022 election results. Bolsonaro denies all charges.

According to the U.S. International Trade Commission, Brazil exported over $42 billion worth of goods to the United States in 2023, ranking as its 18th largest trading partner. The 50% tariff is reportedly the highest Trump has proposed in recent weeks.

Trump previously warned of 10% tariffs on BRICS-supporting countries, following the bloc’s summit in Brazil on July 7.

 

Via
Kazinform

TuraNews

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