Trump's Tariff Target: Brazil Faces Economic Blow Amid Political Turmoil
President Donald Trump has signed an executive order to impose 50% tariffs on Brazil, citing it as an economic emergency. The move comes amidst political tensions involving former Brazilian President Jair Bolsonaro and the U.S. legal actions against him. Key exemptions include civil aircraft and parts.
- Country:
- United States
In a significant political and economic development, President Donald Trump on Wednesday signed an executive order to impose 50% tariffs on Brazil. The move was justified as an economic emergency under a 1977 law, following Brazil's legal actions against former President Jair Bolsonaro, considered a close ally of Trump.
Despite America's $6.8 billion trade surplus with Brazil last year, the tariffs signify a bold economic stance. Notably, essential goods such as civil aircraft and parts, aluminium, energy products, and fertilizers are exempted, illustrating strategic considerations.
Adding to the tension, Trump's Treasury announced sanctions on Brazilian Supreme Court Justice Alexandre de Moraes and visa restrictions on judicial officials, including de Moraes, over freedom of expression concerns and Bolsonaro's legal proceedings.
(With inputs from agencies.)
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