U.S. Exemption Lifts Brazilian Exporters Amidst New Tariffs
The U.S. issued an executive order imposing tariffs linked to former President Jair Bolsonaro's trial but excluded crucial Brazilian exports like orange juice and aircraft, benefiting Embraer and Suzano stocks. The order ensued alongside U.S. sanctions on a Brazilian judge involved in Bolsonaro's case.
In a significant economic development, the U.S. has imposed a new round of tariffs on Brazil, closely associated with former President Jair Bolsonaro's ongoing legal battles. However, key Brazilian exports such as orange juice, certain aircraft, and wood pulp have been spared from these tariffs.
This strategic exemption has positively impacted Brazilian exporters Embraer and Suzano, lifting their shares in the stock market. Embraer's commercial and executive aircraft exports to the U.S. stand at 45% and 70% respectively, underlining the importance of this tariff exemption.
Coinciding with the tariff announcement, the U.S. has also sanctioned a Brazilian Supreme Court justice involved in Bolsonaro's trial, citing concerns over arbitrary legal proceedings and suppression of expression. This diplomatic move adds a layer of complexity to the U.S.-Brazil trade dynamics.
(With inputs from agencies.)
- READ MORE ON:
- tariff
- U.S.
- Brazil
- Jair Bolsonaro
- Embraer
- Suzano
- orange juice
- Sanctions
- Lula da Silva
- aircraft
Google News