Trump Imposes Heavy Tariffs on Eight Nations: Brazil Faces 50% Levy

Washington: The US government has announced the imposition of tariffs on eight countries, with Brazil facing the steepest levy at 50 percent, effective August 1.

According to Thai News Agency, the decision was communicated through a letter from Donald Trump to Brazilian President Luiz Inacio Lula da Silva, where Trump expressed discontent over the legal proceedings against former Brazilian President Jair Bolsonaro. Trump, known for his close ties with Bolsonaro, labeled the prosecution as a witch hunt and had previously warned Brazil of possible additional tariffs.

Many observers suggest that the hefty tariff on Brazil is linked to President da Silva’s remarks during a BRICS summit press conference, where he criticized Trump’s threat to impose a 10 percent tariff on the group if it pursued policies perceived as anti-US. President da Silva emphasized the need for diversified global trade relations and cautioned against over-reliance on the US dollar, describing Trump’s threats as irresponsible.

The tariffs on Brazil were unexpected, with the US Census Bureau identifying Brazil as the US’s 15th largest trading partner. The bilateral trade between the two nations was valued at $92 billion last year, with the US enjoying a $7.4 billion trade surplus. In response to Trump’s announcement, the Brazilian government indicated that any unilateral tariffs would be met with countermeasures in accordance with Brazilian law.

In addition to Brazil, Trump has introduced tariffs on seven other countries: the Philippines at 20 percent, and Sri Lanka, Algeria, Iraq, and Libya at 30 percent, while Brunei and Moldova face tariffs of 25 percent. This move follows previous tariff announcements to 14 countries, including Thailand, South Korea, and Japan.