Trump's new tariff on Brazil, set at 50%, targets the handling of Jair Bolsonaro's judiciary issues and freedom of expression surrounding U.S. social media. The tariff announcement was made on Truth Social, causing the Brazilian real to depreciate and the Sao Paulo Stock Exchange to decline. President Lula da Silva emphasized Brazil's sovereignty and declared that unilateral tariff hikes would invoke Brazilian Economic Reciprocity Law. Additionally, Brazil claimed the U.S. has a trading surplus, countering Trump's assertions about trade deficits.
President Trump has threatened Brazil with a 50% tariff as a response to the treatment of Jair Bolsonaro and alleged attacks on U.S. media platforms.
Brazil's President Lula da Silva responded by stating that any unilateral tariff increases will be handled according to Brazilian Economic Reciprocity Law.
The U.S. trade deficit with Brazil is incorrect; the U.S. has enjoyed a trade surplus of approximately $410 billion over the last 15 years.
Following Trump's announcement, the Brazilian real fell 2% in value, and the Sao Paulo Stock Exchange dropped 1.3%.
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