On the eve of midnight, Trump stated on social media that billions of dollars would start flowing into the U.S. as a result of tariffs.
However, while customs duties make exports from countries more expensive and less competitive, they are payable upon import and are usually passed on to the consumer.
"The only thing that can stop the greatness of America is a radical left court that wants to see our country fail," the president wrote in capital letters, referring to the current case in the U.S. Court of Appeals that is considering whether he exceeded his authority by imposing 'reciprocal' tariffs.
Rates range from 41% for war-torn Syria to 10% for the United Kingdom and will be applied on top of the usual tariffs on goods imported into the U.S.
This means that while Brazil's 'reciprocal' rate is 10%, its total rate is 50% after an additional 40% tariff was imposed by presidential decree on Wednesday, related to the prosecution of former president Jair Bolsonaro.