Trump Threatens Brazil With 50% Tariff Over Alleged Censorship

Benzinga

President Donald Trump escalated his trade war Wednesday by threatening Brazil with a 50% tariff on U.S.-bound exports starting August 1, according to Reuters. Trump raised Brazil’s tariff in a letter to President Lula, expressing anger over the trial of former president Jair Bolsonaro. The president also accused Brazil of undermining free elections and speech and ordered an investigation into its trade practices over alleged censorship of U.S. social media. Brazil is the 15th largest U.S. trading partner, with $92 billion in two-way trade and a $7.4 billion U.S. trade surplus in 2024. The Trump administration pledged "90 deals in 90 days" after April tariff hikes but has secured only two agreements so far, with Britain and Vietnam, and says a deal with India is near.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02President Donald Trump escalated his trade war Wednesday by threatening Brazil with a 50%

00:06tariff on U.S.-bound exports starting August 1st, according to Reuters.

00:09Trump raised Brazil's tariff in a letter to President Lula, expressing anger over the

00:13trial of former President Jair Bolsonaro.

00:15The president also accused Brazil of undermining free elections in speech and ordered an investigation

00:19into trade practices over alleged censorship of U.S. social media.

00:23Brazil is the 15th largest U.S. trading partner, with $92 billion in two-way trade and a $7.4

00:29billion U.S. trade surplus in 2024.

00:32Trump administration pledged 90 deals in 90 days after April tariff hikes, but has secured

00:36only two agreements so far with Britain and Vietnam.

00:39It says a deal with India is near.

00:41For all things money, visit Benzinga.com.

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