Trump Imposes 50% Tariff On Brazil In Response To Action Against Former President
We expected tougher measures than this, Brazilian Foreign Minister
Washington: US President Donald Trump has imposed 50 percent tariffs on most of the items imported from Brazil, calling the judicial proceedings against former Brazilian President Jair Bolsonaro a political retaliation.
However, the sector of aircraft, energy and orange juice has been exempted from the move.
According to a foreign news agency, in a fact sheet issued on Wednesday after the US presidential decree, the White House made it clear that the move was taken in response to the ongoing legal proceedings by Brazil against former President Bolsonaro, which allegedly changed the 2022 election results.
In Brazil, the announcement was reacted to the announcement, Brazilian Finance Minister Rogero Saroon told the media that this is not the worst scenario, we expected more stringent measures.
Following Trump’s move, Brazil’s main export companies, especially aircraft companies, embraced Embryer and paper -makers, saw the rise in share prices, which investors called a relatively soft decision.
On the other hand, the United States has also imposed sanctions on the Brazilian Supreme Court judge who is overseeing the Bolsonaro case. The US Department of State has accused the judge of suppressing illegal detention and freedom of expression.
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