Impact of Trump's Tariffs on Brazilian Exports
A new executive order from the Trump administration places a 50% tariff on 35.9% of Brazilian exports to the United States. The remaining exports are affected by various existing tariffs. Certain sectors like aircraft and energy are exempted. Brazilian officials are expected to unveil the detailed figures soon.
In a recent trade disruption, the Trump administration has announced a steep 50% tariff affecting 35.9% of Brazil's exports to the United States. The executive order issued on Wednesday has sparked concern among Brazilian officials, who are reportedly preparing to disclose detailed data on the impacted sectors.
Insiders revealed that the Ministry of Development, Industry, Trade and Services is spearheading negotiations to mitigate the impact on local industries. Notably, the new tariff aims to counter what former President Trump describes as a 'witch hunt' against ex-President Jair Bolsonaro. However, sectors such as aircraft, energy, and orange juice have been spared from these heightened levies.
Additional figures indicate that 44.6% of Brazilian products will continue facing a preexisting 10% tariff, while the rest will be subject to global tariffs ranging between 25% and 50%. Efforts to reach the MDIC for comment proved unsuccessful, as stakeholders await an official statement on the unfolding trade scenario.
(With inputs from agencies.)
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