NewzVille International
U.S. President Donald Trump has signed an executive order imposing an additional 40% tariff on imports from Brazil, raising the total tariff rate to 50%.
According to the order, the new tariffs will take effect seven days after the signing, which took place on Wednesday. The additional 40% will be applied over the existing 10% baseline tariff already in place under the Trump administration. However, the order clarifies that not all Brazilian imports will be subject to the increased rate.
Exemptions include civil aircraft and parts, aluminium, tin, wood pulp, energy products, and fertilisers.
Reacting to the decision, Brazilian President Luiz Inácio Lula da Silva stated that he would defend “the sovereignty of the Brazilian people in the face of measures announced by the president of the United States.”
