President Donald Trump has announced a 50% tariff on products from Brazil, set to take effect next month.
On Wednesday, President Trump declared that his administration will impose a 50% tariff on goods imported from Brazil beginning 1 August. The announcement was made in a letter addressed to Brazilian President Luiz Inacio Lula da Silva.
Trump specified that this tariff would be applied in addition to existing sectoral tariffs.
Brazilian President Luiz Inacio Lula da Silva said on Wednesday that his country would respond in kind after 50% tariffs hikes were announced on Brazilian exports to the United States.
"Any unilateral move to increase tariffs will be met with a response under Brazil’s Economic Reciprocity Law," a statement from Lula’s office declared.
The U.S. president also voiced support for former Brazilian President Jair Bolsonaro.
Trump has expressed criticism of the BRICS countries, a group of emerging economies that includes Brazil. This latest tariff move underscores ongoing trade tensions between the United States and Brazil.
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U.S. Secretary of State Marco Rubio is set to meet Russian Foreign Minister Sergey Lavrov on the side lines of the ASEAN foreign ministers' summit in Kuala Lumpur on Thursday, according to announcements from both the U.S. State Department and Russia’s foreign ministry.
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Russian drones and missiles struck Ukraine’s capital, Kyiv, early Thursday, killing two people, injuring 13 others, and causing fires in residential and commercial areas, according to local officials. The assault coincided with the United States resuming weapons deliveries to Ukraine.
U.S. Secretary of State Marco Rubio is set to meet Russian Foreign Minister Sergey Lavrov on the side lines of the ASEAN foreign ministers' summit in Kuala Lumpur on Thursday, according to announcements from both the U.S. State Department and Russia’s foreign ministry.
U.S. Secretary of State Marco Rubio will meet Southeast Asian foreign ministers on Thursday during his first trip to Asia since taking office, aiming to reassure the region of Washington’s commitment despite President Donald Trump's sweeping new tariffs targeting many of its economies.
The Philippines plans to negotiate with the United States to reduce newly imposed 20% tariffs on its exports, following a directive by President Donald Trump.
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