Trump Announces 50% Tariff on Brazil, Sends Out More Tariff Letters

President Donald Trump on Wednesday announced a 50% duty on goods from Brazil, effective on August 1st. He said that the levy was imposed to make sure the U.S. and Brazil have the level playing field and because of Brazil's insidious attacks on free elections and the fundamental free speech rights of Americans. Brazilian President Luiz Inácio Lula da Silva responded to Trump's letter by issuing a statement saying that any unilateral measure to increase tariffs would be met with a response in accordance with Brazilian law. Brazil is the 15th largest U.S. trading partner, with total two-way trade of $92 billion as in 2024 and a rare $7.4 billion U.S. trade surplus, according to U.S. Census Bureau data. Top U.S. exports to the South American country are commercial aircraft, petroleum products, crude oil, coal, and semiconductors, while Brazil's top exports to the U.S. are crude oil, coffee, semi-finished steel, and pig iron. Trump also sent several tariff letters to country leaders announcing a 30% tariff on Sri Lanka, Libya, Iraq, and Algeria, a 25% levy on Moldova and Brunei Darussalam, and a 20% duty on the Philippines.