US to impose 50% tariffs on imports from Brazil starting August — Trump

The United States has decided to impose 50% customs duties on imports of goods from Brazil starting August 1, US President Donald Trump announced, Report informs.

He published on his Truth Social page the text of a message addressed to Brazilian President Luiz Inacio Lula da Silva, outlining the new tariff level. Trump warned that if Brasilia decides to introduce retaliatory tariffs, the US will raise its tax rate on Brazilian goods further - by the same amount that Brasilia sets.

In addition, according to Trump, US trade negotiator Jamieson Greer will immediately launch an investigation into Brazil’s practices in bilateral trade with the US. As a result of this proceeding, Brasilia could face additional increases in US import duties.