Trump sets 50% tariff on Brazil, updates trade rates for 7 nations
Explore our tariff tracker to see the latest rates for Brazil and seven other nations impacted by Trump's new trade policies.
Explore our tariff tracker to see the latest rates for Brazil and seven other nations impacted by Trump's new trade policies.
Explore our tariff tracker to see the latest rates for Brazil and seven other nations impacted by Trump's new trade policies.
President Donald Trump on Wednesday posted on Truth Social that he has released eight more tariff letters. These include a letter to the Brazilian president, Luiz Inácio Lula da Silva, to inform him of a 50 percent tariff on all goods entering the United States, a 40-point increase from April 9.
In his letter, Trump denounced the treatment of former President Jair Bolsonaro, who is currently standing trial for charges related to an alleged plot to overturn his 2022 election loss.
The Philippines and Brunei also saw a single-digit increase in tariffs for products coming into the United States. Meanwhile, countries such as Iraq, Libya, Moldova and Sri Lanka each saw a decrease in trade tariffs.
Lula has threatened to impose Brazil's economic reciprocity law on the United States. That allows trade, investment and intellectual property agreements to be suspended for countries that harm Brazil's competitiveness.
The tariffs are set to take effect on Aug. 1, after Trump delayed the deadline once more.
The White House said Trump may send more letters in the coming days and weeks. For a look at the tariff rate of each country, refer to our tariff tracker below.