Trump's Tariff: see which Brazilian products will be exempt starting this Tuesday
A new global tariff of 15% on products imported into the United States takes effect, with many Brazilian products exempted.
Starting from Tuesday, a new global tariff of 15% on imported goods into the United States will be implemented as mandated by President Donald Trump. This tariff comes after the U.S. Supreme Court revoked part of the previous tariffs imposed on over 180 countries back in April. The new rule abolishes all tariffs previously set by Trump under the International Emergency Economic Powers Act (IEEPA), allowing the fresh 15% tariff to take effect simultaneously.
For Brazil, which had been subjected to some of the highest tariffs under Trump’s administration, the latest ruling by the Supreme Court signifies a potential decrease in trade barriers. Two significant fees were removed following the Supreme Court's decision, which should be beneficial for Brazilian exporters. However, while the previously imposed tariffs are lifted, Trump has introduced a temporary tariff based on Section 122 of the Trade Act of 1974, which allows a temporary tariff of up to 15% for a period of 150 days.
The range of exempt products is expected to mitigate the impact of the new tariff on Brazilian goods entering the U.S. market. The implications of these changes will be closely monitored by Brazilian exporters and businesses, as this could alter the trade dynamics significantly, especially considering the high dependency on the U.S. as a trade partner. This evolving scenario could lead to adjustments in trade strategies and impact the economic relations between the two nations.