Trump announces historic tariff against Brazil and its government, President Donald Trump announced Wednesday that the United States will impose a 50% tariff on imports from Brazil starting August 1, in retaliation for the trial of former Brazilian President Jair Bolsonaro and what he called a "very unfair" trade and market relationship between the two countries. In the letter to Brazilian President Luiz Inácio Lula da Silva, Trump explained that the new tariff represents a sharp increase from the 10% tariff that had been in place since April.The letter is part of a series of nearly two dozen similar letters recently sent to world leaders notifying them of tariff increases for their countries.
However, the letter to Lula went further, explicitly imposing the tariff as political punishment for domestic issues that Trump disapproves of. “This is an international disgrace,” Trump wrote about the trial of Bolsonaro, his political ally, accused of attempted coup after his defeat in 2022.$BTC
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