Source: NBC News
“Brazilian President Luiz Inacio Lula da Silva said Wednesday that his country will respond with reciprocity to U.S. President Donald Trump’s newly announced 50% tariff rate on [American buyers of] his country’s exports, citing a recently adopted Brazilian law that authorizes the government to take proportional countermeasures. Trump said Wednesday the U.S. will impose the tariff on [American buyers of] imports from Brazil starting Aug. 1, partly in retaliation for the ongoing prosecution of the country’s former president, Jair Bolsonaro. Trump said in a letter that the new tariff — a massive jump from the 10% rate the U.S. imposed on imports from Brazil in early April — is also a response to the ‘very unfair trade relationship’ between the two countries.” (07/10/25)
https://www.cnbc.com/2025/07/09/trump-brazil-tariffs-bolsonaro.html