Trump announces 50% tariff on Brazil, citing what he claims is a ‘witch-hunt’ against Bolsonaro

 

Brazil's currency plunges over Trump's punitive 50% tariff to avenge Bolsonaro

Brazil’s currency, the real, fell over 2% against the dollar late on Wednesday after Trump posted a letter online imposing a 50% tariff on imports and scolding the nation for its supposed mistreatment of its former leader, Jair Bolsonaro, who stands accused of trying to overturn his 2022 election loss through a coup.

Trump’s letter said his administration will start collecting the 50% tariff on products imported to the US from Brazil, “separate from all sectoral tariffs”, starting a August 1.